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16 Apr 2015 AUD/USD still persists the consolidation in 0.75-0.78 – Westpac FXStreet (Edinburgh) - Sean Callow, Strategist at Westpac, sees the pair keeping the 0.75-0.78 range in the medium term.Key Quotes“Last week we suggested AUD/USD would find buyers under 0.7600 but struggle above 0.7800”.“This outlook is broadly intact, after the Aussie recovered from the dismal China trade data to avoid a break of 0.7500”.“China’s weak IP growth momentum on Wed was largely brushed aside while iron ore prices have at least become more two-way”.“The strong Mar jobs data could help fuel the first probe above 0.7800 since late last month”.“But with CPI likely to be muted and the RBA still set to revise down its growth forecasts in May, domestic headwinds remain strong”.“The broad range remains 0.75-0.78, with the pair drifting from the upper end of the range to lower over the week”.
