The aussie fell against the major currencies after RBA’s
decision to cut interest rates.
The currency was subjected to sales, falling to 0.7555
right
after the news sails .
Last week the Australian dollar was under tension due to disappointing data on inflation.
This led to the most sharp daily spears for the
past three years.
The decision of the central bankers was somewhat
expected by market partakers
after CPI fell by 0.2% in the first quarter of the year,
based on
expectations of growth with the same figure.
Thereupon AUD/USD was softly creeping, along with bulls slowly retreating.
Planted in the daily lows, aussie’s weakness grows.
Around 0.7490 today the pair was hovering with 2.30% weakness showing.
The strong support at 0.7560 held the pair and until trading above it, will grow
higher.
Bulls warning is flashing with 0.7640 level targeting.
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