Poor Sentiment Dragging the AUD/USD Down
The AUD/USD is continuing its battle with the 0.7100 level in another bearish looking day.
Both the AUD/USD and NZD/USD are weaker as Asian trade gets underway. Australian consumer sentiment has come in worse than expected, showing a 3% drop. That was below the previous measure of negative 2.3%.
Markets are still waiting to hear more from the US President regarding trade and the USD has been in a tightish range for the moment.
So the weakness is really just a reflection of where the AUD is at currently.
Aussie Outlook
The AUD/USD is still at the major level of 0.7100 and we are trading up and down around here for the time being.
I still feel that it is the round numbers that we need to watch at the moment. And while we maintain this downtrend and channel, I suspect 0.7050 and 0.7000 will be the keys.
Any further USD upside will see us take out the lows and put more pressure on the already struggling commodity currencies.

Sidebar rates
HFM
Related Posts
Doo Prime
XM
Best Forex Brokers
