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AUD/USD trading positively at 0.9550/58

FXstreet.com (Barcelona) - The AUD/USD downside was temporarily halted during European trading Monday, leading to an ascension with the pair near session highs of 0.9550/58 in these moments.

With the AUD/USD tepidly rising at a rate of +0.12%, the Mataf.net analyst team identifies the next resistances at 0.9679, followed by 0.9739, and finally 0.9771. On the decline, a break below 0.9587 will foster supportive structures at 0.9555 and 0.9487.

According to Sean Callow, Global FX Strategist at Westpac, “The Aussie is the whipping boy for USD bulls, with commodities struggling and domestic data leaving open RBA cut as soon as June. Specs should extend shorts, opening up a run towards 0.9400 (into early June). Over the month we see the Fed remaining dovish, so look for 0.9800.”

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