AUD/USD: spec bulls remain in charge - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the AUD/USD pair kept rallying into fresh yearly highs, printing 0.7828 this Wednesday, following the recovery in oil prices.

Key Quotes:

"The Aussie fell early Asia, as the Westpac leading index contracted -0.12% in March, compared to February, when it shrank 0.23% indicating that the economy is still far from full growth mode."

"The early dip down to 0.7766, was once again seen as a buying opportunity, which suggests that speculative interest is not yet ready to give up on the Australian currency."