Obama Confirms Osama Bin Laden’s Death In Pakistan, Dollar Rebounds

POSTED BY , UPDATED ON August 7th, 2014

Osama bin Laden, leader of al-Qaeda, mastermind of the September 11th terrorist attacks and the world’s most wanted man for almost a decade is dead, President Barack Obama has announced.

The dollar bounces back across the board on reports that al-Qaeda leader Osama bin Laden is dead. Currencies such as the Australian dollar and euro were poised for a correction after having reached some major chart objectives.

The dollar up at 81.55 yen, from earlier lows of 80.97, just ahead of a major Fibonacci retracement of the 76.25 to 80.54 move.

The dollar is estimated to rebound towards next resistance levels of $1.4710-20, $1.0850-60 and 82.20 on the euro, Aussie and yen respectively over the course of the day.