USD Trading Outlook (27-03-2015)

AUD/USD The weak USD in Europe’s morning inspired bulls to test s-t resistance near 0.7880. Several attempts failed and the pair pulled back to the 0.7865 area into NY’s open. NY made their own try at cracking the resistance but failed just as well. A rebound for the USD that was ignited by significant rallies in US treasury yields saw AUD/USD’s gains start to erode. The slide saw 0.7820 tested before any bounce was seen. The lift was limited though and the pair went on to test 0.7800/10 support as US yields rallied further. A give back for some of the USD’s gains saw the support hold and the pair sat just below 0.7825 late in the day. No major data is due from the APAC region so traders will likely wait until US GDP tomorrow for the next cue for the pair.