13 Feb 2015
AUD/USD finds resistance below 0.7800
FXStreet (Córdoba) - AUD/USD rallied earlier but the upside found resistance below 0.7800. During the last hours the pair retreated erasing all gains. Currently trades at 0.7740, flat for the day.
Greenback recovered across the board after losing round on Asian hours, but overall price action remains limited in the currency market.
AUD among the worst performers
The Australian dollar dropped across the board during the week. “The Riksbank pulled the rug away from under the SEK yesterday by becoming the first central bank to cut its main repo rate into negative territory but, over the course of the past 5 days, the AUD has been a worse performer. The blow to the AUD this week was dealt by the shockingly poor Australian January labour data”, Jane Foley, Senior Currency Strategist at Rabobank.
Foley mentioned that they keep the forecast for the AUD/USD at 0.70 on a 12 month view.
Greenback recovered across the board after losing round on Asian hours, but overall price action remains limited in the currency market.
AUD among the worst performers
The Australian dollar dropped across the board during the week. “The Riksbank pulled the rug away from under the SEK yesterday by becoming the first central bank to cut its main repo rate into negative territory but, over the course of the past 5 days, the AUD has been a worse performer. The blow to the AUD this week was dealt by the shockingly poor Australian January labour data”, Jane Foley, Senior Currency Strategist at Rabobank.
Foley mentioned that they keep the forecast for the AUD/USD at 0.70 on a 12 month view.