![FxWirePro: AUD/USD Retakes 0.76 Handle, Broad USD Weakness Supports FxWirePro: AUD/USD Retakes 0.76 Handle, Broad USD Weakness Supports](https://c.mql5.com/6/734/splash-669864.png)
FxWirePro: AUD/USD Retakes 0.76 Handle, Broad USD Weakness Supports
28 April 2016, 09:50
![Roberto Jacobs Roberto Jacobs](https://c.mql5.com/avatar/2015/6/55706E50-4CAE.jpg)
0
88
FxWirePro: AUD/USD Retakes 0.76 Handle, Broad USD Weakness Supports
- Broad USD weakness has helped AUD/USD recover lows of 0.7548 hit on Wednesday's trade.
- Surprisingly weak Australian CPI numbers on Wednesday saw sharp slump in AUD/USD.
- Strength in JPY on disappointment from BoJ which has kept the US dollar subdued has been the key trigger for the AUD/USD recovery.
- Gains are not sustainable, we see potential for drag in the pair to further lows.
- Markets now focus on Australia’s very own ‘Super Tuesday’ (May3rd) when RBA will meet to decide policy. Dissappointingly weak CPI data sees a very strong potential for a rate cut.
- Technicals are biased lower, weakness back below 0.7600 mark might continue to find support at 0.7530 (rising trendline), if broken drag till 0.75 likely.
- On the upside resistance is located at 0.7679 (5-DMA) ahead of 0.77 and then 0.7720 (10-DMA).
The material has been provided by InstaForex Company - www.instaforex.com