{"id":6217,"date":"2021-04-02T12:19:26","date_gmt":"2021-04-02T12:19:26","guid":{"rendered":"https:\/\/xtreamforex.com\/?p=6217"},"modified":"2021-04-02T12:19:26","modified_gmt":"2021-04-02T12:19:26","slug":"aud-usd-walks-water-above-0-7600","status":"publish","type":"post","link":"https:\/\/www.xtrememarkets.com\/US\/aud-usd-walks-water-above-0-7600\/","title":{"rendered":"AUD\/USD walks water above 0.7600"},"content":{"rendered":"<h5><strong><span data-preserver-spaces=\"true\">AUD\/USD walks water above 0.7600<\/span><\/strong><\/h5>\n<ul>\n<li><span data-preserver-spaces=\"true\">AUD\/USD clings to the consolidative mood above 0.7600.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Support comes in at the YTD lows near 0.7530(Thursday).<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">US NFP is looking forward to being in the limelight later on Friday.<\/span><\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\">The Aussie Dollar alternates gains with losses vs its American Counterpart, leaving the price movement around AUD\/USD side-lined over the 0.7600 yardsticks on Good Friday.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">AUD\/USD\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">continues the side-lined theme above the 0.7600 level against the backdrop of the more generalized rangebound mood prevailing in the global markets on Good Friday Trading.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">AUD managed to repeal Thursday&#8217;s pullback to fresh yearly lows in the 0.7530 zones and ended the session slightly on the positive area.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Less auspicious outcomes from the Australian docket seem to have weighed on the currency earlier in the week following a small drop in the production PMI in March (from56.9 to 56.8) narrowing trade surplus in February, a monthly contraction in Home Loans and the 0.3% drop in Retail sales from a month earlier, also in February.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Moving forward announcement of March&#8217;s US Nonfarm Payrolls later in the NA session is required to bring in the potential bouts of volatility in spot amidst the prevailing marginal trading conditions, as most markets are closed on Good Friday.\u00a0<\/span><\/p>\n<p><span style=\"text-decoration: underline;\"><strong>What to look for around AUD<\/strong><\/span><strong>:-<\/strong><\/p>\n<p><span data-preserver-spaces=\"true\">The Aussie <a href=\"https:\/\/xtreamforex.com\/\"><strong>Dollar<\/strong><\/a> gathered some buying interest following 2021 lows near 0.7500 on Wednesday. In the meantime, price action around AUD remains dominated by Dollar dynamics plus the performance of commodity prices, particularly iron ore. However, the dovish stance from RBA looks forward to keeping gains in the currency somewhat capped helped by special corrections in the commodity space. It is worth reviving that the central bank looks forward to keeping interest rates at current levels until at least 2024, while it is determined to rise to remain subdued for the time being.\u00a0<\/span><\/p>\n<p><span style=\"text-decoration: underline;\"><strong>Key Events in Australia next week<\/strong><\/span><strong>:-<\/strong><\/p>\n<p><span data-preserver-spaces=\"true\">RBA interest rate decision (Tuesday)- Building Approvals, RBA&#8217;s Financial Stability Review(Friday)<\/span><\/p>\n<p><span style=\"text-decoration: underline;\"><strong>Important issues on the Back Boiler<\/strong><\/span><strong>:\u00a0<\/strong><\/p>\n<p><strong><span data-preserver-spaces=\"true\">\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">China-Australia trade\/political action- Is a bubble shaping up in the Australian housing market?- Economic recovery amidst the vaccine rollout- Sustainability of the rally in iron ore- RBA remains vigilant on unwelcomed AUD appreciation.<\/span><\/p>\n<p><span style=\"text-decoration: underline;\"><strong>AUD\/USD levels to watch<\/strong><\/span><strong>:<\/strong><strong>&#8211;\u00a0<\/strong><\/p>\n<p><span data-preserver-spaces=\"true\">At the time, the pair is retreating 0.07% at 0.7610 and faces the next support at 0.7531 (2021 low Apr.1) seconded by 0.7783(200-day SMA) and then 0.7000 (round level). On the upside, a break above 0.7664(weekly high Mar.30) <\/span><span data-preserver-spaces=\"true\">would expose 0.7717 (50-day SMA) and finally 0.7849 (monthly high Mar.18).<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>AUD\/USD walks water above 0.7600 AUD\/USD clings to the consolidative mood above 0.7600. Support comes in at the YTD lows near 0.7530(Thursday). US NFP is looking forward to being in the limelight later on Friday. The Aussie Dollar alternates gains with losses vs its American Counterpart, leaving the price movement around AUD\/USD side-lined over the<\/p>\n... <a href=\"https:\/\/www.xtrememarkets.com\/US\/aud-usd-walks-water-above-0-7600\/\">continue reading<\/a>.","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[12],"tags":[151,39,158,24,157],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v16.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>AUD\/USD walks water above 0.7600<\/title>\r\n<meta name=\"description\" content=\"The Aussie Dollar alternates gains with losses vs its American Counterpart, leaving the price movement around AUD\/USD side-lined over the 0.7600 yardsticks on Good Friday.\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.xtrememarkets.com\/US\/aud-usd-walks-water-above-0-7600\/\" \/>\r\n<meta 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