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19 May 2015
AUD/USD consolidates losses, slightly above 0.7900
FXStreet (Córdoba) - AUD/USD was able to stabilized above 0.7900 after a sharp decline and during the last hours it has been consolidating losses, hovering around 0.7910.
Another decline for AUD/USD
The pair is about to post the fourth daily decline in a row. Last Thursday peaked at 0.8160, the highest level in almost four months but then reversed and started to decline. From there it has fallen 250 pips and is back below 0.8000.
AUD/USD was unable to hold for more than week above the psychological 0.8000 and today dropped below the daily 20-SMA for the first time since early April.
The aussie was on Tuesday among the worst performers in the currency market weakened by the minutes from the Reserve Bank of Australia, that signaled that the door for another rate cut is still open.
Another decline for AUD/USD
The pair is about to post the fourth daily decline in a row. Last Thursday peaked at 0.8160, the highest level in almost four months but then reversed and started to decline. From there it has fallen 250 pips and is back below 0.8000.
AUD/USD was unable to hold for more than week above the psychological 0.8000 and today dropped below the daily 20-SMA for the first time since early April.
The aussie was on Tuesday among the worst performers in the currency market weakened by the minutes from the Reserve Bank of Australia, that signaled that the door for another rate cut is still open.