AUD/USD pulls back ahead of the February high (0.6409) to carve a series of lower highs and lows, but the exchange rate may track the flattening slope in the 50-Day SMA (0.6266) should it hold above the monthly low (0.6187). Australian Dollar Forecast: AUD/USD Pulls Back Ahead of February High Keep in mind, AUD/USD no longer trades within the ascending channel from earlier this year following the six-day selloff in February, and the decline from the monthly high (0.6364) may persist as data prints coming out of China, Australia’s largest trading partner, cast a weakening outlook for the Asia/Pacific region. The … (full story)
