USD Trading Outlook (01-05-2015)

AUD/USD
• Combination of factors have AUD heavy in Europe & NY trade
• Tighter spreads, iron-ore drop, EUR/AUD rally, AUD/NZD drop all weigh
• AUD/USD hits 0.7863 low in NY, EUR/AUD to 1.4225, AUD/NZD to 1.0337
• 0.7820/35 (TL,10-DMA,Apr 28 low) supt under threat, day RSI biased down
• Break might see deeper pullback within recent rally, L-T chart favors bulls
• Weak US data on Fri might see much of today’s losses erased

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