9 Apr 2015
AUD/USD: Fade stalling at 0.7680 support
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7685 with a high of 0.7699 and a low of 0.7677.
AUD/USD continues to struggle and the fade gathers more pips testing 0.7680 support currently. This is a correction of the bounce post the RBA while the markets now start pricing in a possible rate cut for May. Meanwhile, the FOMC minutes were a little more hawkish than expected and this offered the greenback further space on the bid, weighing on the commodity currencies.
Technically, the pair is bearish while below 0.7720 and 0.7620 guards further looses to the downside ahead of the six year low at 0.7534 scored in early April. Key support could be the two month support line below at 0.7511.
AUD/USD continues to struggle and the fade gathers more pips testing 0.7680 support currently. This is a correction of the bounce post the RBA while the markets now start pricing in a possible rate cut for May. Meanwhile, the FOMC minutes were a little more hawkish than expected and this offered the greenback further space on the bid, weighing on the commodity currencies.
Technically, the pair is bearish while below 0.7720 and 0.7620 guards further looses to the downside ahead of the six year low at 0.7534 scored in early April. Key support could be the two month support line below at 0.7511.