AUD Trading Outlook
Australian Dollar (AUD) the AUD/USD was under pressure from AUD/JPY liquidations but the 1.0225 level held firm and we have seen a solid bounce in the Asian session following some hawkish commentary from the RBA Governor Stevens. UPDATE RBA Governor Stevens ‘China Slowdown Over’.
Australian Dollar (AUD) the AUD/USD sell off from 1.0370 was aggressive and tracked the gold plunge with the commodity linked currency falling to 1.0250 by the end of the US session. Strong stock market selling in Asia today and no AUD bounce has led many to see a retest of 1.0230 range support and perhaps break to parity if global stock markets enter a correction. Looking ahead, RBA Governor Stevens speaks before Parliament.
Australian Dollar (AUD) the Aussie was weak but found support at 1.0280 and bounced back to 1.0310 by the end of the US session close. AUD/JPY is supporting and is pressuring resistance Y96.90. The medium term outlook is for RBA rate cuts and AUD to fall further but we need a catalyst to break large support at 1.0200 region. Looking ahead, February RBA Minutes Released.
Australian Dollar (AUD) the AUD/USD came under pressure after failing to break above 1.03700 on multiple occasions on Thursday and Friday. The bulls threw in the towel and we fell to 1.0300 and opened weak in Asia Monday leading to more calls of AUD/USD weakness technically. Looking ahead, no economic data.
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