28 Apr 2015
AUD/USD bulls up to test the RBA's commitments for lower Aussie
FXStreet (Guatemala) - AUD/USD is currently trading at 0.8013 with a high of 0.8026 and a low of 0.7832.
AUD/USD continues to find demand and bulls are testing the RBA's patience and commitments to a lower Aussie while we enter territory that may well be of a concern for the Central Bank and will likely come up on the May 7th meeting.
There is a bearish sentiment around the greenback that s mostly at play here while otherwise, markets are speculating that the RBA will be a no change at the next meeting and bulls take advantage of the risk on environment as a subsequence, creating a short squeeze. Technically, the next key resistance is at 0.8034 being the early January low. Should the major offer a convincing close through this level we may be entering a bull phase ahead of the RBA meeting
AUD/USD continues to find demand and bulls are testing the RBA's patience and commitments to a lower Aussie while we enter territory that may well be of a concern for the Central Bank and will likely come up on the May 7th meeting.
There is a bearish sentiment around the greenback that s mostly at play here while otherwise, markets are speculating that the RBA will be a no change at the next meeting and bulls take advantage of the risk on environment as a subsequence, creating a short squeeze. Technically, the next key resistance is at 0.8034 being the early January low. Should the major offer a convincing close through this level we may be entering a bull phase ahead of the RBA meeting