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5 Feb 2015
AUD/USD on the way to 0.7200?
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7756 with a high of 0.7765 and a low of 0.7750.
AUD/USD is consolidated around the pivot and better offered since the highs at 0.7850. Meanwhile, the market is backing the greenback again through the ebbs and flows and the major remains contained by the descending resistance line at 0.8230 while the bears are keeping the lows of 0.7625 in their sights.
Meanwhile, AUD/USD will remain offered under the current RBA policy and with markets expecting further rate cuts from the Central Bank as Daniel Been, analyst at ANZ explained, "With few exceptions, the AUD has declined in the 12 months that follow easing cycles. In this instance we expect the same result. The impending yield compression will add pressure on the AUD... We recommend selling AUD/USD...with a profit target at USD0.7200."
AUD/USD is consolidated around the pivot and better offered since the highs at 0.7850. Meanwhile, the market is backing the greenback again through the ebbs and flows and the major remains contained by the descending resistance line at 0.8230 while the bears are keeping the lows of 0.7625 in their sights.
Meanwhile, AUD/USD will remain offered under the current RBA policy and with markets expecting further rate cuts from the Central Bank as Daniel Been, analyst at ANZ explained, "With few exceptions, the AUD has declined in the 12 months that follow easing cycles. In this instance we expect the same result. The impending yield compression will add pressure on the AUD... We recommend selling AUD/USD...with a profit target at USD0.7200."