USD Trading Outlook (19-05-2014)
The Australian Dollar (AUD): The 21-DMA and local bid once again held the pair on the downside. EUR/AUD’s rally reversed at 1.4700 and AUD/NZD’s lift off 1.0820 towards 1.0850/55, saw the pair bounced from 0.9335 to 0.9365. A better than f/c U.S housing data only managed to push the pair to around 0.9355 and no further losses were seen. Limited data for this week therefore, impact on the pair is more likely to come from crosses again.
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