The risk-aversion towards the Australian Dollar that built up in the end of February has sent the AUD/USD back to levels not seen since July 2012. From a fundamental point of view, the decline in demand for higher-yielding currencies and the expectation that the Reserve Bank of Australia is likely to cut interest rates in March are the main drivers of the down drop. The close of the pair at 1.0171 for February is indicating that the minor trend could be turning down, putting the AUD/USD in a position to resume the downside in March. Should the downside momentum continue, the next key support level sits at 1.0039, ... (full story)