11 Feb 2015
AUD/USD: Bears attacking the downside
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7706 with a high of 0.7796 and a low of 0.7692.
AUD/USD bulls have been making hard work of any upside of late and the pair is offered once again, this time with the greenback rallying across the board and Gold dropping. In any case, the downside risks remain compelling with the door left open by the RBA for further easing and the divergence between Australia's Central Bank and the Fed.
However, analysts at Bank of America Merrill Lynch explained that the technical outlook suggests upside risks for the AUD and a decline in volatility post US payrolls could support carry trades in the near-term. Looking ahead for today, the jobs data from Australia's is due and this could shake things up while overnight there was some positive news in consumer confidence and household finances rising.
AUD/USD bulls have been making hard work of any upside of late and the pair is offered once again, this time with the greenback rallying across the board and Gold dropping. In any case, the downside risks remain compelling with the door left open by the RBA for further easing and the divergence between Australia's Central Bank and the Fed.
However, analysts at Bank of America Merrill Lynch explained that the technical outlook suggests upside risks for the AUD and a decline in volatility post US payrolls could support carry trades in the near-term. Looking ahead for today, the jobs data from Australia's is due and this could shake things up while overnight there was some positive news in consumer confidence and household finances rising.