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15 Apr 2015
AUD/USD: Downside opening up with test of 0.76 handle
FXStreet (Guatemala) - AUD/USD is currently trading on the offer at 0.7600 with a high of 0.7630 and a low of 0.7595 in Asia.
AUD/USD is moving lower and caught up in trade through the Kiwi with the RBNZ's deputy governor, Spencer, offering a dovish outlook form the bank in respect to housing imbalances in the NZ economy. This coupled with a poor Westpac consumer confidence reading and an oversold dollar, ripe for profit taking, the Aussie bears gather in force and take the commodity currency lower to test out space below the 0.76 handle again, ahead of tomorrow's key jobs data and the next RBA meeting next month.
Technically, headwinds keep a lid on any rallies below the Dec 30th lows at circa 0.8030. On a shorter time frame, 0.7615/20 and 0.7647/50 represent recent tops on rallies that have been faded, while 0.7550 territory offers a double bottom and immediate target on follow through of the downside.
AUD/USD is moving lower and caught up in trade through the Kiwi with the RBNZ's deputy governor, Spencer, offering a dovish outlook form the bank in respect to housing imbalances in the NZ economy. This coupled with a poor Westpac consumer confidence reading and an oversold dollar, ripe for profit taking, the Aussie bears gather in force and take the commodity currency lower to test out space below the 0.76 handle again, ahead of tomorrow's key jobs data and the next RBA meeting next month.
Technically, headwinds keep a lid on any rallies below the Dec 30th lows at circa 0.8030. On a shorter time frame, 0.7615/20 and 0.7647/50 represent recent tops on rallies that have been faded, while 0.7550 territory offers a double bottom and immediate target on follow through of the downside.