Monday, April 2, 2012

Forex Daily Analysis - April 3, 2012

Forex Daily Analysis - April 3, 2012

The USD traded in mixed trend against the major currencies, as the Australian dollar was strengthening against it, after few weeks of declines. The pair has been sliding through a channel and started correcting up after it touched the support of the lower boundary, last Thursday.  The central bank of Australia published the interest rate this morning and therefore the rate statement will influence the momentum of the Aussie during the day. Therefore, a positive influence might help the AUD rise upwards to the higher boundary of the channel, around 1.050-1.0550. However, bearish reaction to the rate statement might pull the currency under 1.03 again. Read more