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Forex: AUD/USD consolidates losses below 1.0200

FXstreet.com (Barcelona) - Today’s decision by the central bank commanded by G.Stevens to lower the refi rate to 2.75% is still weighting on the Aussie, dragging AUD/USD well below the key mark at 1.0200 around 1.0160/65.

Next big event in Australia ahead in the week will be the Unemployment Rate and the Employment Change, expected at 5.6% and 12K, respectively.

“Notably the RBA notes the continued strength of AUD - a key issue for the non-resource sector. We look for at least one more 25bp cut from the RBA in H2 and for AUD to head more consistently below parity”, suggested Lars Christensen, Chief Analyst at Danske Bank.

The cross is now losing 0.77% at 1.0172 with the next support at 1.0116 (2013 low Mar.4) ahead of 1.0100 (low Jul.12 2012) and then 1.0021 (low Jun.29 2012).
On the other hand, a breakout of 1.0221 (low Apr.23) would aim for 1.0245 (hourly highs May 7) and finally 1.0285 (MA10d).

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