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0.6600 remains a bridge too far at the moment for the AUD/USD

There has been an absence of content most recently on the AUD/USD and that is because there has not been that much to say about it. The next RBA meeting is not until March 19 and ahead of that there is a divergence of opinion, as to whether the Australian central bank will hold rates, hike, or signal the next move is lower. Meantime, the AUD/USD peaked in late December at 0.6871. That was followed by a drop to a low this year at 0.6443. Since then it has been trying to correct at least part of that fall. However, most recently it has stalled ahead of the 38.2% correction of that fall. That is at 0.6606. The rebound high reached just yesterday got to 0.6595. The AUD/USD fell back yesterday afternoon, as the US dollar rebounded. It later closed last night at 0.6557. It has edged lower today, from an earlier high at 0.6580. It is just now trying to press higher, but headwinds remain and those are the US dollar and China. The recovery in the Chinese markets since the beginning of February is all well and good, but it is yet to convince the Aussie it seems. The AUD/USD is currently trading at 0.6561
 

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