The U.S. dollar weakened against a basket of currencies with the dollar index down by 0.8% today.
The Japanese yen strengthened across the board today against the other majors.
The AUDUSD tied its all-time high today at 1.0182 before closing just off the mark at 1.0178.
Trading Setups / Chart in Focus:
The AUDUSD pushed higher today and hit its recent multi-decade high of 1.0182, the AUDUSD has not been at levels this high since the early 1980s.
We can see on the 4hr chart that there was a well defined pin bar setup on 12/16 that could have gotten you into this recent up-move to re-test the recent highs.
For a more in-depth analysis of the major forex currency pairs and price action analysis, please check out my forex trading education website.
On Wall Street today stocks advanced in light trading as the S&P 500 headed for its best December in nearly two decades, buoyed by investor optimism about the economy in 2011.
The Dow added 10.52 points, or 0.09 percent, the S&P 500 gained 1.34 points, or 0.11 percent, and the Nasdaq added 4.05 points, or 0.15 percent.
Upcoming important economic announcements: 12/30
8:30am EST: United States – Unemployment Claims
10:00am EST: United States – Pending Home Sales m/m