USD Trading Outlook (29-04-2014)
The Australian Dollar (AUD): The pair rallied to a high of 0.9318 in early Europe session but stalled as offers into the 200-HMA & 21-DMA. AUD slid to 0.9275, start of NY session, EUR/AUD recovery and a better than f/c U.S pending home sales added pressure to AUD to a low of 0.9243. Little bounce was seen as heavy commodity & stocks weighed on risk. Late in the session the pair sat near 0.9255, further downside could be seen as event risk looms.
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