2 Dec 2014
AUD/USD building permits aid a recovery to 0.85 in th Aussie
FXStreet (Guatemala) - AUD/USD is trading at 0.8491, down -0.13% on the day, having posted a daily high at 0.8511 and low at 0.8475.
AUD/USD rallied up through the 0.85 handle on the back of key Australia building approvals for October that read an impressive 11.4% m/m vs the expected 5.0% and beating previous -11.2%. Meanwhile markets await the RBA and statement, with expectations that the RBA will leave the official cash rate unchanged at 2.5% and likely mention that the Aussie is still not at desirable levels.
The pair to the upside is contained by the recently formed descending resistance line with 0.8510/20/50 being a congested area of that resistance, while levels to the downside can be found at 0.8485 (Daily Classic PP), 0.8475 (Daily Low), 0.8435 (Daily Classic S1), 0.8426 (Weekly Classic S1) and 0.8417 (Yesterday's Low).
AUD/USD rallied up through the 0.85 handle on the back of key Australia building approvals for October that read an impressive 11.4% m/m vs the expected 5.0% and beating previous -11.2%. Meanwhile markets await the RBA and statement, with expectations that the RBA will leave the official cash rate unchanged at 2.5% and likely mention that the Aussie is still not at desirable levels.
The pair to the upside is contained by the recently formed descending resistance line with 0.8510/20/50 being a congested area of that resistance, while levels to the downside can be found at 0.8485 (Daily Classic PP), 0.8475 (Daily Low), 0.8435 (Daily Classic S1), 0.8426 (Weekly Classic S1) and 0.8417 (Yesterday's Low).