30 Apr 2015
AUD/USD bears testing the downside on 0.80 the figure
FXStreet (Guatemala) - AUD/USD is currently trading at 0.8080 with a high of 0.80123 and a low of 0.7990 in early Asia.
AUD/USD is testing the downside yet again on little other than second tier data within the ebs and flows of what has been a volatile past few sessions with the Q1 GDP results and FOMC statement.
Meanwhile, the Aussie is in better shape overall as the fundamental weakness in the economy has been diluted by recent improvements in data ahead of the next RBA meeting next month/week. The risk however come sin the exchange rate and the Banks desire for a lower level, and this may be a key theme in that meeting, hindering prospect of higher levels there after. Technically, however, the major still has some work to do to relieve the overall bearishness also, for the medium term at least. Key resistance is comes at the 0.8034 early January low.
AUD/USD is testing the downside yet again on little other than second tier data within the ebs and flows of what has been a volatile past few sessions with the Q1 GDP results and FOMC statement.
Meanwhile, the Aussie is in better shape overall as the fundamental weakness in the economy has been diluted by recent improvements in data ahead of the next RBA meeting next month/week. The risk however come sin the exchange rate and the Banks desire for a lower level, and this may be a key theme in that meeting, hindering prospect of higher levels there after. Technically, however, the major still has some work to do to relieve the overall bearishness also, for the medium term at least. Key resistance is comes at the 0.8034 early January low.