AUD/USD once again fails at a shot to post a daily close above 0.7900
The pair hasn't had a daily close above the 0.7900 level since mid-February, and yesterday's failure once again isn't a good sign for the bulls.
It traded to a high of 0.7916 but failed to build on that momentum as risk sentiment was soured once again by trade and US politics.
There isn't much on the calendar left for the week, and there isn't a data point or event that I would say that could potentially change the outlook for either the aussie or the dollar.
RBA assistant governor Guy Debelle will be speaking on Friday in what is possibly the most notable event, but he'll be speaking on "risk and return in a low rate environment" - not exactly something that stands out.
It'll pretty much be a lot to do with risk sentiment for the remainder of the week, and in my view the risk lies more with the dollar - since it is much more vulnerable to surprises on the political front in the US.
