AUD / USD extends decline
Aussie dollar attached to the positive side on Monday, extending its intraday correction and penetrate key resistance at 1,030.
Plunge in the price of gold does not force us to lower our estimates for AUD. still look modest decline this year. Shift recently in the market expectations back support additional easing to limit the room for interest rate cuts to bring AUD much lower
AUD / USD up 0.02% at 1.0281 with immediate resistance at 1.0358 (19 April highs) followed by 1.0375 (17 April highs charts per hour) and finally 1.0399 (16 April highs).
On the down side, the penetration of 1.0277 (lowest April 19) would bring 1.0269 (lowest April 18) and then 1.0266 (low March 12).
Support: 1.0280, 1.0275, 1.0270
Resistance: 1.0300, 1.0295, 1.0290


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