Chart Analysis: AUD/USD

The performance in AUD/USD looks very strong, and while the AUD/USD has just crossed the .90 mark, the expanding triangle formation we are seeing is a classic bearish one - though we would certainly wait for a break of the lower bound of the formation for confirmation in Forex Charts.

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Forex News: Reserve Bank of Australia raised their core Interest Rate to 3.25%

Skirting widespread speculation, the Reserve Bank of Australia raised their core interest rate by a quarter basis point to 3.25%.

The move put Australia in front of all other Western nations, making them the first to raise rates amidst the current economic crisis and sent the Aussie on an upward tear through Forex Online pairs.

The rate hike also helped spur on stock markets across the globe as optimism grew that the global economy was recovering.

At 12:05AM GMT, the Australian Dollar was trading up 1.53% against the US Dollar to a 14 month high of .8904, up 1.25% to the Euro to 1.653, up .76% against the Canadian Dollar to .9433 and up .33% versus the Japanese Yen to 79.06.

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