Back to Blog

AUD/USD: Slide continues as 1.0039 in sight?

The risk-aversion towards the Australian Dollar that built up in the end of February has sent the AUD/USD back to levels not seen since July 2012. From a fundamental point of view, the decline in demand for higher-yielding currencies and the expectation that the Reserve Bank of Australia is likely to cut interest rates in March are the main drivers of the down drop. The close of the pair at 1.0171 for February is indicating that the minor trend could be turning down, putting the AUD/USD in a position to resume the downside in March. Should the downside momentum continue, the next key support level sits at 1.0039, June’s 2012 lows. At 1.0132 at the time of writing, the bears are targeting 1.008 and 1.006 intraday. In the alternative scenario, a break above 1.0185 could delay the downtrend, but it is hard to imagine this at the moment. There is not much in the way of economic data today, which puts the focus on Tuesday’s RBA interest rate decision.

Dafni Serdari
Market Analyst
The comment in this blog is the personal opinion of the contributors and not The content does not constitute financial, investment or tax advice. You are advised to discuss your specific requirements with an independent financial adviser prior to entering into any bet. is not responsible and disclaims any and all liability for the content of comments written by contributors to the blog, and the content of any third party sites linked from this blog.

Share this post

Back to Blog

Spread betting and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading these products with this provider.
You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.