AUD/USD: The Australian dollar slumped to a 6-week low, as soft domestic inflation reinforced prospects of monetary easing. The economy’s inflation slowed sharply last quarter to the lowest in three years on weak petrol prices and a stubborn lack of wage pressure, strengthening the case of an interest rate cut likely as soon as May. The Aussie trades 0.9 percent down at 0.7037, having hit a low of 0.7027 earlier; it’s lowest since Mar. 11. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7003 (Mar. 8 Low), a break below targets 0.6981 (Jan. 2 Low). On the upside, resistance is located at 0.7131 (Apr. 1 High), a break above could take it near 0.7174 (Apr. 10 High).
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