Forex: AUD/USD back to highs

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Forex: AUD/USD back to highs

FITITOL--> FXstreet.com (Barcelona) - The AUD/USD peaked at 1.0393 in the European morning, but poor results in the Eurozone confidence survey triggered a risk-off plunge against the greenback, sending the AUD/USD back to the opening price.

Germany’s inflation report according to the targeted 2% and the just now released Pending Home Sales in the US, higher by 4.1% in March are strengthening the pair again.

“Our cycle analysis continues to favour further weakness beneath 1.0230, into 1.0146 (09th Jan low) and thereafter will likely target the parity level”, wrote MIG Bank analyst Howard Friend, pointing to a break above 1.0470/90 and 1.0670 to put this scenario on hold.