5 Mar 2015
AUD/USD lower on Dovish Lowe; down to test 0.7800 support
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7807 with a high of 0.7827 and a low of 0.7803.
AUD/USD has moved to the downside on dovish remarks of RBA Deputy Governor Lowe's Speech at the Goldman Sachs Annual Global Macro Economic Conference in Sydney. Lowe explained that further easing may be appropriate.
Earlier today, AUD/USD had been in a tight range despite data that was released that came in the form of in-line retail sales numbers and a slightly worse than expected trade balance. Technically, the market is bearish and analyst sight lower towards the 0.74 handle. While Valeria Bednarik, chief analyst at FXStreet explained, "In the 4 hours chart the price hovers a few pips above a flat 20 SMA, whilst the technical indicators turned lower and are now approaching their mid-lines, limiting the chances of a stronger advance.
AUD/USD has moved to the downside on dovish remarks of RBA Deputy Governor Lowe's Speech at the Goldman Sachs Annual Global Macro Economic Conference in Sydney. Lowe explained that further easing may be appropriate.
Earlier today, AUD/USD had been in a tight range despite data that was released that came in the form of in-line retail sales numbers and a slightly worse than expected trade balance. Technically, the market is bearish and analyst sight lower towards the 0.74 handle. While Valeria Bednarik, chief analyst at FXStreet explained, "In the 4 hours chart the price hovers a few pips above a flat 20 SMA, whilst the technical indicators turned lower and are now approaching their mid-lines, limiting the chances of a stronger advance.