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31 Mar 2015
AUD/USD fails to extend recovery
FXStreet (Córdoba) - The Australian dollar remains on the back foot on Tuesday, extending losses into a sixth day in a row.
AUD/USD fell briefly below 0.7600 and hit a 2-week low of 0.7590 earlier on the day amid broad greenback strength. Even though the pair managed to move off lows, the recovery was capped by the 0.7645 zone. At time of writing, AUD/USD is trading at 0.7618, still 0.46% below its opening price.
The Australian dollar is headed back to 6-year lows scored earlier this month at 0.7560 after staging a recovery that found resistance at the 0.7940 area last week. The Aussie remains undermined by low commodity prices and speculations the RBA might cut for second time this year.
AUD/USD fell briefly below 0.7600 and hit a 2-week low of 0.7590 earlier on the day amid broad greenback strength. Even though the pair managed to move off lows, the recovery was capped by the 0.7645 zone. At time of writing, AUD/USD is trading at 0.7618, still 0.46% below its opening price.
The Australian dollar is headed back to 6-year lows scored earlier this month at 0.7560 after staging a recovery that found resistance at the 0.7940 area last week. The Aussie remains undermined by low commodity prices and speculations the RBA might cut for second time this year.