The AUD bids higher on a quiet Monday, but downside risk still looms. The RBA is quiet this week, and the trading week will be a short affair with Easter ahead. In the meantime, how is the AUDUSD pair trading? Let’s take a look at this 26 March AUDUSD Fundamental Outlook.
26 March, GKFX – The AUD/USD is kicking upwards in the early Asia session, trying to stay on top of 0.7720 for an early-week run-up following last Friday’s end-of-week decline.
Today’s data calendar
The data calendar for both the Aussie and the US is a flat affair for Monday, though the Chicago Fed’s National Activity Index at 12:30 GMT, followed by speeches from the Fed’s Dudley and FOMC Member Mester at 17:30 and 20:30 GMT respectively could give Greenback traders a push in one direction or the other.
Risk appetite appears to be in play for the Monday early session, but derailment is never far, with headlines about tariffs already starting to grind out of the press machine.
26 March AUDUSD Fundamental Outlook
The pair is pushing upwards, but the major levels are still remaining in play, and the 61.8 Fibo level at 0.7740 is still the immediate resistance to beat, with 0.7785 nearby, while support still sits (for now) at the recent swing lows of 0.7695 and 0.7670.
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