19 May 2015
AUD/USD keeps dropping post RBA minutes
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7960 with a high of 0.8001 and a low of 0.7955.
AUD/USD is offered on the back of the RBA minutes creating fresh lows for the week on the back of an easing bias rom the Central Bank. The key take away points can be read here.
AUD/USD has been sighted as better offered in this dovish environment and the greenback is regaining form once again. The price action overnight has been an extension of the offers from above the highs of last week's rally at 0.8161. The fact of the matter is we are trading around uncertainty with no clear indications from either of the Central Banks in respect of the major as to when or what the next moves will be. There is more forward guidance from the Fed than the RBA which is offering the greenback support and price action is changing accordingly on data impacts as we progress through the year in to Q2.
Technically, the pair is now headed for the near term uptrend that lies at 0.7930. A break of this would be significant, and the market will need to close back below here to alleviate upside efforts. to the downside, we could be looking at the 0.7790/0.7774 zone as bears target on a continuation of the supply over the course of this week being the support and beginning the start of May's business.
AUD/USD is offered on the back of the RBA minutes creating fresh lows for the week on the back of an easing bias rom the Central Bank. The key take away points can be read here.
AUD/USD has been sighted as better offered in this dovish environment and the greenback is regaining form once again. The price action overnight has been an extension of the offers from above the highs of last week's rally at 0.8161. The fact of the matter is we are trading around uncertainty with no clear indications from either of the Central Banks in respect of the major as to when or what the next moves will be. There is more forward guidance from the Fed than the RBA which is offering the greenback support and price action is changing accordingly on data impacts as we progress through the year in to Q2.
Technically, the pair is now headed for the near term uptrend that lies at 0.7930. A break of this would be significant, and the market will need to close back below here to alleviate upside efforts. to the downside, we could be looking at the 0.7790/0.7774 zone as bears target on a continuation of the supply over the course of this week being the support and beginning the start of May's business.