Ivan Zhigalov
Citigroup strategists say that the buyers of the Australian currency should stay alert as the reaction to the positive employment data is dying away. The data came as a surprise, thus questioning the RBA’s recent forecast and interest rate decision, Paul Brennan says.
Despite the fears concerned with the AUDUSD decline, BNP Paribas left its AUDUSD forecast for Q2 2012 unchanged at 1.05.
According to , AUDUSD has suspended its long-term downtrend. At this point, the currency pair is forming wave A/B, The MF pivots 1.0464 and 1.0556 are the closest major levels of resistance. A break below 1.0025 will resume the downswing - wave A/B of Weekly. The closest levels of support are located at 1.0151, 1.0120.
Ivan Zhigalov
