18 May 2015
AUD/USD making lower lows and highs
FXStreet (Guatemala) - AUD/USD is currently trading at 0.8007 with a high of 0.8053 and a low of 0.7979.
AUD/USD is moving along the descending resistance line that commenced mid week last week from in the 0.8160's. RBA's Deputy Governor Lowe's Speech overnight was dovish and he explained that the Central Bank has room to act by cutting exchange rates if need be. Consumer sentiment and inflation details come later in the week. This is all followed by US CPI's on Friday while the FOMC minutes come on Wednesday and before.
Technically, OUB Group explained that short-term pressure is still on the downside and only a break back above 0.8105 would suggest that the downward pressure has eased."
AUD/USD is moving along the descending resistance line that commenced mid week last week from in the 0.8160's. RBA's Deputy Governor Lowe's Speech overnight was dovish and he explained that the Central Bank has room to act by cutting exchange rates if need be. Consumer sentiment and inflation details come later in the week. This is all followed by US CPI's on Friday while the FOMC minutes come on Wednesday and before.
Technically, OUB Group explained that short-term pressure is still on the downside and only a break back above 0.8105 would suggest that the downward pressure has eased."