AUD/USD clings to revenues

AUD/USD clings to revenues

On Tuesday, the currency pair AUD/USD pair actually kept to its bid tone for the second trading session. Nevertheless, it was still below the crucial 200-day SMA post-RBA verdict.  

Currently keeping to 0.7440-50 region, the currency pair demonstrated rather a muted reaction to RBA announcement to hold its major benchmark interest rates intact at a historical minimum of 1.5%.

Meanwhile, April’s dismal publication of China Caixin PMI, coming-in at 50.3 compared to March’s 51.2, didn’t manage to ensure any extra boost to the China-proxy Australian Dollar. 

Aside from that, poor commodity prices, especially copper, contributed to putting a lid on the pair's further up-move.

A follow through momentum boasts the definite potential to push the currency pair towards 50-day SMA barrier close to 0.7590 region. Well, above the region a new bout of short-covering might pave way for the expected continuation of the pair's revival towards 0.7635-40 resistance.



Aussie and Kiwi stand still vs. weaker greenback

On Thursday, the Australian and New Zealand dollars were intact versus their American counterpart because the US currency moderately recovered from losses posted after the publication of the minutes of the Fed’s latest policy gathering…


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