Forex: AUD/USD holds below 1.0460

FXstreet.com (Córdoba) - The AUD/USD opened the week around 1.0440, unchanged from Friday's closing price and rose to 1.0461 but retreated afterwards. Recently dropped to 1.0432 reaching a new daily low as stocks rise in Australia following a tentative deal between Cyprus and the troika.

At the moment trades around 1.0440 and continues to move sideways below 1.0460 and above 1.0420.

“With the strength of the Euro likely to remain critical for Australian dollar direction, RBA Governor’s speech in Sydney tomorrow will be closely watched by investors. Opening this morning overall unchanged at a rate of 1.0443, selling of the Greenback will need to continue if we are to see levels in excess of the 1.05 mark”, says OzForex Research. According to them today's trading range is expected to be between 1.0410 and 1.0480.