AUD review: Western Union

The Aussie dollar rose to April highs above $0.76 against its jobs-injured U.S. counterpart. The Aussie is days removed from hitting fresh six-year lows under $0.76, a decline stemming from expectations for Australia's central bank to cut interest rates. 

The Reserve Bank meets Tuesday with a forecast calling for rates to stay put at 2.25%. No action this week could see the Aussie dollar rally in relief. However, any lopping of rates to new lows would renew pressure on the Aussie and leave it vulnerable to plumbing new lows. 

Meaningful upside traction for the Aussie should remain a challenge until slumping commodities rebound and China's economy shows signs of stabilization.