Wij gebruiken een aantal cookies om u de best mogelijke browserervaring te bieden. Door deze website te blijven gebruiken, gaat u akkoord met ons gebruik van cookies. U kunt hier meer lezen over ons cookiebeleid of op de link klikken onderaan iedere pagina van onze website.
The RBA has opted to stand unmoved yet again, but more positive data has helped AUD/USD traders retain a degree of optimism. Strong home building figures helped to provide some reasons for buying the Australian currency.
On a four-hourly chart, it appears that AUD/USD is being capped by a descending trend line running down from the highs seen last week. This has held so far today as well, while the 50-period moving average is heading lower once again.
Based on this, we can say that it is likely that AUD/USD is heading back towards support at 89.00, which provided a degree of support throughout February. If the descending trend line holds then it becomes a question of whether AUD/USD will break below the 89.00 level, and, if this happens, the February lows of around 87.00 will become the next target.