7 Apr 2015
AUD/USD: Six year low in focus at 0.7534
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7632 with a high of 0.7712 and a low of 0.7575.
AUD/USD was capped through the 0.77 handle and has been better offered over the course of the sessions since Asia for over a 60% retracement of the RBA on hold decision rally. The RBA left rates on hold at 2.25% and a dovish tone accompanied the decision.
However, the greenback has continued on the path of recovery since last week's dismal NFP's result of just 126K vs 244K expected and its come back leaves the 0.76 handle under pressure. In doing so, this also exposes the six year low of 0.7534. Technically and longer term, the 61.8% Fibonacci retracement of the 2001-11 advance at .7184 could also be reached, as suggested by Karen Jones, chief analyst at Commerzbank.
AUD/USD was capped through the 0.77 handle and has been better offered over the course of the sessions since Asia for over a 60% retracement of the RBA on hold decision rally. The RBA left rates on hold at 2.25% and a dovish tone accompanied the decision.
However, the greenback has continued on the path of recovery since last week's dismal NFP's result of just 126K vs 244K expected and its come back leaves the 0.76 handle under pressure. In doing so, this also exposes the six year low of 0.7534. Technically and longer term, the 61.8% Fibonacci retracement of the 2001-11 advance at .7184 could also be reached, as suggested by Karen Jones, chief analyst at Commerzbank.