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AUD/USD Forecast May 24, 2012, Technical Analysis

The AUD/USD brace fell hard for most of the session as the “jeopardy off” trade was the main theme for the day. However, in the delayed hours the Americans decided to take the words of the French and Italians as a waive that Eurobonds are coming. This is a problem though, as the Germans are against it, as well as the Finns, Dutch, and Austrians. Speculate who would have to back those large bonds? Yep, the ones who oppose it. It’s natural for those that need money to agree that they should have their neighbors cosign for the allow. This only drives home the point on how the European Seam should have at least two currencies.

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