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Aussie Regains Poise After Thursday's Sell-Off

AUD

Falling crude oil prices dragged AUD/USD along Thursday amid the White House's decision to initiate a sizeable release of oil from U.S. strategic reserves. Jitters surrounding Russia's ongoing invasion of Ukraine and resultant tensions with the West helped keep a lid on risk appetite. A recovery attempt into the final London fix of the quarter proved short-lived, with AUD/USD finishing the day comfortably in negative territory.

  • The pair has added 11 pips so far and last operates at $0.7494, with bulls looking to claim Mar 28 high of $0.7540. Above there opens Oct 28 high of $0.7556. On the flip side, bears would be pleased by a slide through Mar 23 low of $0.7450 and towards Mar 22 low of $0.7376.
  • Australian housing finance data for the month of February will hit the wires later today.
  • Data highlights next week include Melbourne Institute Inflation & ANZ job ads (Monday) as well as trade balance (Thursday). Furthermore, the RBA will announce its next monetary policy decision on Tuesday.
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