"We're putting jobs first. We're putting Australians first … We are an immigration nation but the fact remains - Australian workers must have priority for Australian jobs."
— Australian Prime Minister Malcolm Turnbull (based on CNBC)
Pair's Outlook
The cautious April minutes from the Reserve Bank of Australia seems to weight heavily on the Aussie, erasing its previous gains against the Greenback. Downside risks have pushed the pair through the 200-day SMA and the weekly PP at 0.7551; nevertheless, it is unlikely that the plunge will reach the 100-day SMA located at 0.7523. It may be expected that the downside volatility stills in the remaining hours of today's trading session, leaving the Aussie somewhere between the 20-day and 200-day SMAs.
Traders' Sentiment
Market sentiment is at equilibrium today, as 50% of traders are holding both long and short positions. Meanwhile, 52% of pending orders are to buy the Aussie.
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