Trapped in the ascending channel since February 2nd week, AUDUSD managed to break the channel downside breaking till the neighborhood regions of the psychological support 0.71000. The US Dollar held on the defensive in wake of Thursday’s soft US economic data, which reaffirmed market expectations that the Fed will hold interest rates steady and was evident from a fresh leg of down slide in the US Treasury bond yields. The Aussie further benefited from upbeat remarks by RBA Governor Lowe, saying that there may be a case for a higher interest rate if the jobless rate drops below the current level of 5%. A decline below 1.70200 should get it rolling downhill back towards a test of the Jan 2 flash-crash. As of writing, Bulls are trying to retest the broken channel at 0.71250 since yesterday. If there is a flow in the liquidity in the upcoming sessions, bears are getting ready to take over the market to make further downside movement breaking 0.71000 level once again. On the other side, bulls have to break the channel north side in order to form new highs above 0.72000.

AUDUSD TODAY:
Daily open: 0.70881
Daily Last high: 0.71303
Daily Last Low: 0.70829
Daily current growth: +0.52%