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Mar 01 - 05:55 AM

AUD/USD - COMMENT-AUD/USD Bulls Should Tread Carefully In March

By Martin Miller  —  Mar 01 - 03:37 AM

There are good reasons why demand has been strong for AUD/USD in the first quarter of 2021 nL1N2KS32Q.
But those bullish on the pair should tread carefully as the quarter draws to a close.

While AUD/USD has ended in positive territory 13 of the past 21 first quarters, it often falters in March.
AUD/USD's March performance since 2000 shows it has dropped in 12 of the past 21 years, possibly due to FX traders taking profits on their first-quarter gains.

AUD/USD rose on Monday, as a sell-off last week in global bonds on worries about eventual monetary policy tightening appeared to have eased for now nL2N2KZ05G.
The Reserve Bank of Australia boosted the size of its daily quantitative-easing programme on Monday nL2N2KZ00W.

AUD/USD's big setback from last week's 0.8007 peak, the highest traded since early 2018, weighs heavily.
There is a good chance for a bigger setback through the 2021 low of 0.7564 in the weeks ahead.

For more click on FXBUZ


AUD/USD March Seasonality Chart: Click here

Weekly Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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