AUD/USD: Declines Expected Below 0.75 Handle - FXStreet
Valeria Bednarik,
chief analyst at FXStreet explained that the Aussie was hit hard this
Wednesday, falling down to 0.7522 against the greenback on the back of
commodities' sharp decline and the bearish trend has continued in Asia
ahead of the fix through the 0.75 handle.
Key Quotes:
"Precious
metals plummeted, with spot gold reaching a daily low of $1,215 a troy
ounce and silver closing the day near its daily lows. Additionally, and
as more US policy makers have heightened the possibility of a rate hike
as soon as next April, the dollar was broadly higher on improved
market's sentiment."
"Except for the New Zealand trade balance,
the macroeconomic calendar will remain empty during the upcoming Asian
session, which means that currencies will likely continue trading on
sentient. This latest slide in the AUD/USD has harmed partially the
dominant bullish trend, with further declines below 0.7500 opening doors
for a steeper decline."
