25 Apr 2014
AUD/USD under pressure, retesting 0.9250/55
FXStreet (Bali) - AUD/USD slid to a new session low of 0.9253 and saw a little bounce after a topside failure at 0.9270 intraday resistance.
The price found some bids just a whisker away from the key support at 0.9250, which if broken, should see the exchange rate expose the next bear target at 0.92/.9215 (early April lows).
The bearish pressure on the Aussie follows a disappointing CPI reading in Australia last Wednesday, despite the number was still in the upper band of the RBA 2-3% target range, which suggests the central bank has little room from changing its firm neutral stance.
The price found some bids just a whisker away from the key support at 0.9250, which if broken, should see the exchange rate expose the next bear target at 0.92/.9215 (early April lows).
The bearish pressure on the Aussie follows a disappointing CPI reading in Australia last Wednesday, despite the number was still in the upper band of the RBA 2-3% target range, which suggests the central bank has little room from changing its firm neutral stance.