A stronger us dollar on all fronts pushed the pair AUD/USD further to the downside. The pair broke below 0.7450 and fell to 0.7439, reaching the lowest level since January 12.
Earlier today, the australian dollar recovered ground and rose towards 0.7500. But after reaching 0.7490 lost strength and pulled back. After the beginning of the american session, the dollar began to rise with the rate of the us dollar, reaching the maximum since Monday, despite an increase of the Treasury bonds. The cross AUD/USD broke with ease the minimum yesterday at 0.7450. Currently listed at 0.7445/47, 25 pips below the close of Wednesday.
This is the fourth drop daily consecutive. The price is consolidating under the key area of 0.7500. That area covered the low in march and also during the first week of April.
Key data for AUD/USD
The economic reports of the united States included an increase above the expectations in initial claims for unemployment (257K vs. 241K), durable goods orders for march rose 0.7%, below the 1.2% expected, and the pending sales of homes fell by 0.8%.
On Friday, the key report in Australia will be the Producer Price Index (Q1) and private credit (march). In the united States, will publish the first estimate of GDP in the first quarter. Analysts estimate that the economy rose at a rate of 2%.