USD Trading Outlook (12-05-2014)
The Australian Dollar (AUD): AUD was generally bullish but was mostly pressured by the crosses, especially against EUR and CAD. Follow on from Draghi’s Thursday statement, EUR/AUD cleared 1.4710 support to retest 1.4690-95 while the weak CA jobs results pressed AUD/CAD up to the 30DMA near 1.0220. Little data due for the AUD this week, impact may affect the pair could come from external factors while the ECB rolls out numerous speakers and the US has a fairly full data due.
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