US in Chaos, AUD and NZD Surged
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US in Chaos, AUD and NZD Surged
AUD/USD surged significantly after breaching above 0.6642, the previous resistance which has currently become a support level.
The pair may again test the January high of 0.6911 and could even pass this level to challenge 0.7032, which is the highest in several months.
Fueled by central bank‘s stimulus and certain degrees of complacency, the stock market’s rally has been severely at odds with the fundamental situations, being termed as “surrealism” and “optimism” by some analysis. This upbeat sentiment has spread from US to the Asia-Pacific stock market.
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