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15 Apr 2015
AUD/USD: Bulls suffocated below late Dec lows
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7615 with a high of 0.7625 and low of 0.7613.
AUD/USD is drifting to the downside with 0.7610 on the cards on a slow pace in Asia, moving in the shadows of an active market overnight, where the greenback was shunned on the back of the IMF news of a downgrading to the US economic outlook. Nevertheless, the worlds largest economy still shines on in respect of the competition but it does dilute the prospects to some extent of the possibility of a rate hike in June.
The next event that we are getting set for comes later in the week and may have a significant impact on the Aussie in respect of next months RBA meeting. The jobs data is due tomorrow for the Australian economy and anything negative could alert markets and put us in to "rate cut mode", weighing on the Aussie dollar. Technically, the major commodity currency remains with a bearish bias still and until a daily close above Dec 30th lows is achieved, circa 0.8030.
AUD/USD is drifting to the downside with 0.7610 on the cards on a slow pace in Asia, moving in the shadows of an active market overnight, where the greenback was shunned on the back of the IMF news of a downgrading to the US economic outlook. Nevertheless, the worlds largest economy still shines on in respect of the competition but it does dilute the prospects to some extent of the possibility of a rate hike in June.
The next event that we are getting set for comes later in the week and may have a significant impact on the Aussie in respect of next months RBA meeting. The jobs data is due tomorrow for the Australian economy and anything negative could alert markets and put us in to "rate cut mode", weighing on the Aussie dollar. Technically, the major commodity currency remains with a bearish bias still and until a daily close above Dec 30th lows is achieved, circa 0.8030.