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Apr 01 - 07:55 AM

AUD/USD - Consolidation Before Higher Next Week

By Peter Stoneham  —  Apr 01 - 05:55 AM
  • A bullish continuation pattern points to AUD gains, possibly next week

  • Corrective risk after a 5.2% gain since Mar 15 and 8.2% rise since Jan 28

  • AUD/USD breakout levels at 0.7456 and 0.7540 five-month high

  • Focus on today's U.S. labour report and ramifications for the Fed

  • AUD has its own jobs data to deed off: unemployment drops to 4%

  • Fed tightening cycle heavily factored but RBA path may have room to impact

  • RBA meets next week: market looking for any clues on a June tightening

  • Futures fully priced for Jun 0.25% hike and six more to 1.75% by year-end

    For more click on FXBUZ

AUD/USD daily candle chart: Click here

Refinitiv IFR Research/Market Commentary


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