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2 Jun 2015
AUD/USD: A rocket towards a 50% retracement
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7771 with a high of 0.7638 and a low of 0.7606.
AUD/USD is trading on the bid, stalling just shy of the 0.78 handle on a US session that had the greenback scrambling for shelter. The markets are hyping up concerns about Greece, while one minute it seems we are close to a deal to being miles away again. The FX space is very active at the moment with large swings in the commodity currencies, while overnight, the Reserve Bank of Australia, as expected, left their interest rates at 2%. However, they have left the doors open for further easing should conditions warrant to do so.
We now await GDP from Australia and then the main event in the US at the end of the week will come in the form of Nonfarm Payrolls. Technically, Karen Jones, chief analyst at Commerzbank explained that these intraday rallies are now indicated to gather demand towards 0.7890/50% retracement and the 0.8160 recent high.
AUD/USD is trading on the bid, stalling just shy of the 0.78 handle on a US session that had the greenback scrambling for shelter. The markets are hyping up concerns about Greece, while one minute it seems we are close to a deal to being miles away again. The FX space is very active at the moment with large swings in the commodity currencies, while overnight, the Reserve Bank of Australia, as expected, left their interest rates at 2%. However, they have left the doors open for further easing should conditions warrant to do so.
We now await GDP from Australia and then the main event in the US at the end of the week will come in the form of Nonfarm Payrolls. Technically, Karen Jones, chief analyst at Commerzbank explained that these intraday rallies are now indicated to gather demand towards 0.7890/50% retracement and the 0.8160 recent high.