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6 May 2015
AUD/USD stablised in to Asia sub key 0.7950
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7935 with a high of 0.7944 and a low of 0.7931.
AUD/USD has settled after a turbulent few sessions as the markets digest the recent voice from the RBA and await the statement which has been indicated to move towards a wait and see strategy post the tactical cut of 25bp's from the Central Bank. The Aussie has taken flight on the basis that markets are speculating that there will not be a further rate cut and have clinched on to the bullish tone of the RBA in respect to the labor market that has appeared to have stabilized and with household demand improving.
From here, a close above 0.8068 would initiate a deeper recovery to the 0.8247/38.2% retracement of the move down from September 2014 and the 0.8295 2015 peak, as explained by Karen Jones, chief analyst at Commerzbank.
AUD/USD has settled after a turbulent few sessions as the markets digest the recent voice from the RBA and await the statement which has been indicated to move towards a wait and see strategy post the tactical cut of 25bp's from the Central Bank. The Aussie has taken flight on the basis that markets are speculating that there will not be a further rate cut and have clinched on to the bullish tone of the RBA in respect to the labor market that has appeared to have stabilized and with household demand improving.
From here, a close above 0.8068 would initiate a deeper recovery to the 0.8247/38.2% retracement of the move down from September 2014 and the 0.8295 2015 peak, as explained by Karen Jones, chief analyst at Commerzbank.