AUD/USD remains vulnerable

Thursday, 04/05/2017 | 08:54 GMT

Disclaimer

Despite the hawkish tone from the RBA, technical indicators continue to suggest the Aussie dollar looks like a sell. We saw the 200 day moving average rejected around 0.7555, followed by a run straight through the 23.6% Fibonacci retracement. A sustained break below 0.7400 paves the way for a return to late November lows around 0.7310.

USD/CHF is testing the 200 day moving average around 0.9950. A break above this level will pave the way for a retest of parity.

This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice.

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Source: https://www.stofs.com/en/newsroom/entry/TECHNICAL/audusd-remains-vulnerable

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