Despite the RBA delivering a rate cut that was only priced as a low probability a week ago, AUD/USD has been resilient, trading around 0.66. Squeezes will offer better opportunities to sell, strategists at Westpac Institutional Bank advise. Key quotes “AUD/USD resilience is due to the USD’s lurch lower, with JPY, EUR and CHF posting much larger gains as US yields tumbled.” “The global mood swing against the US dollar is likely to extend near term, but the broader picture remains bearish for AUD crosses.” “We look for a further cut to the 0.25% lower bound in April by the RBA, then the debate turns to QE.” “Look for choppy trade either side of 0.6600 near term, with squeezes offering opportunities for better levels to sell. Sub-0.64 still a reasonable multi-week target.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD: Brexit more dangerous than coronavirus for the pound FX Street 2 years Despite the RBA delivering a rate cut that was only priced as a low probability a week ago, AUD/USD has been resilient, trading around 0.66. Squeezes will offer better opportunities to sell, strategists at Westpac Institutional Bank advise. Key quotes “AUD/USD resilience is due to the USD’s lurch lower, with JPY, EUR and CHF posting much larger gains as US yields tumbled.” “The global mood swing against the US dollar is likely to extend near term, but the broader picture remains bearish for AUD crosses.” “We look for a further cut to the 0.25% lower bound in April by the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
