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Thomson Reuters
Apr 28 - 08:36 PM
AUD/USD - Bears Need To Be Patient As 0.7000 Puts Up Fight
First appeared on eFXplus on Apr 28 - 06:50 PM
  • AUD/USD maintains tenuous hold above 0.7000 as USD consolidates its gains
  • Reprieved by Friday's decline in U.S. yields on soft U.S. inflation data
  • AUD bounce could prove temporary on evidence of overall strong U.S.Q1 growth
  • Bullish U.S. growth theme contrasts with slowing AU economy nL3N21T0NJ
  • Fed rate cut hopes negated by speculation RBA could ease as early as May 7
  • Support 0.7020, 0.6990; resistance 0.7070, above 0.7100 alleviates pressure

Reuters Poll: A global tightening cycle is over? : Click here

Source:
Thomson Reuters IFR Markets

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