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AUD

AUD/USD has clawed back its marginal losses from earlier this week and last changes hands at $0.7416, virtually unchanged on the day.

  • Mar 7 high of $0.7441 provides the initial bullish target and a break here would shift focus to Nov 2, 2021 high of $0.7532. On the flip side, bears look for a retreat under Mar 15 low of $0.7165.
  • Labour ousted the Liberal government of South Australia in the state election held over the weekend, adding to PM Morrison's concerns ahead of the upcoming federal poll.
  • Preliminary Australian PMI data, due Thursday, headline the local data docket this week. Elsewhere, RBA Gov Lowe will take part in Tuesday's panel discussion during ASIC Annual Forum 2022.

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