AUD Trading Outlook
Australian Dollar (AUD) the AUD/USD is the most range bound currency pair in the market this week which is very unusual for the risk currency. The AUD/JPY is supporting and grinding higher towards Y85 level.
Australian Dollar (AUD) the AUD/USD is struggling to find direction of late with sellers failing at 1.0300 and buyers scared close to 1.0450. The market will be looking to the European debt markets and the stocks later tonight for fresh direction. UPDATE Brazil Cuts Interest Rates by 75Bps to help stimulate.
Australian Dollar (AUD) the AUD/USD tricked Asian investors again with the selling pushing the AUD/USD to fresh week lows before reversing to fresh week highs as the sellers turned buyers given the stock market rally. The RBA minutes have increased the chance of a rate cut in May but the real decider is the Q1 Inflation data out next Tuesday.
Australian Dollar (AUD) the AUD/USD hit day lows as the EUR/USD tested 1.3000 before reversing with the major’s short squeeze. Traders sold into the rally though which was capped at 1.0380 and we are once again coming under selling pressure going into Tuesday Asian trade. The outlook is for more losses as the slowdown in China becomes more prevalent. Looking ahead March RBA meeting minutes released.
Australian Dollar (AUD) the AUD/USD is being crunched lower as stock markets fall and the Chinese economy slows down faster than expected. The market is eyeing month lows new 1.0200 and then on to 1.000 if the risk off trading environment continues. Last year the market took the Aussie to 0.9500 at the height of the European Debt Crisis Fear.
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