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4 Mar 2015
AUD/USD: Failures on the upside opens up Feb lows
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7814 with a high of 0.7821 and a low of 0.7811.
AUD/USD has started out the Asia day without the benefit of doubt that came from the RBA's decision yesterday to hold on cutting rates for time being and has sunk lower on the basis of the doors left open for action later in the year. In fact, analysts are indeed now looking for a cut to come in this next quarter, keeping a lid on the pair, offering traders cheap dollars for time being.
Technically, we are still not down through the pivot, with a lack of impetus to really press on overnight, but the day ahead brings Yellen and the Evans and a good amount of key US data. First up though, we have domestic GDP coming from Australia which is the main attraction on the calendar and further ahead we have China's HSBC services also. Technically, failures on attempts higher brings in the 0.77 handle. Key support comes at 0.7740 ahead of the 0.7627 the February low.
AUD/USD has started out the Asia day without the benefit of doubt that came from the RBA's decision yesterday to hold on cutting rates for time being and has sunk lower on the basis of the doors left open for action later in the year. In fact, analysts are indeed now looking for a cut to come in this next quarter, keeping a lid on the pair, offering traders cheap dollars for time being.
Technically, we are still not down through the pivot, with a lack of impetus to really press on overnight, but the day ahead brings Yellen and the Evans and a good amount of key US data. First up though, we have domestic GDP coming from Australia which is the main attraction on the calendar and further ahead we have China's HSBC services also. Technically, failures on attempts higher brings in the 0.77 handle. Key support comes at 0.7740 ahead of the 0.7627 the February low.