3 Sep 2013
AUD/USD upwards on less dovish RBA
FXstreet.com (Athens) - The AUD/USD is heading upwards on Tuesday, after RBA minutes showed a message that was less dovish than expected.
Will the AUD/USD sustain its uptrend momentum above 0.9000 amidst war jitters?
The ‘Aussie’ is still the outperforming major currency of the day, as after the soft domestic data in recent weeks, traders were expecting a more dovish stance on behalf of RBA. However, the RBA let down the investors betting on that case-scenario, providing a statement that was very similar to last month.
TECHNICAL PERSPECTIVE ON AUD/USD
Investors might have in mind that a clear break above 0.9035 initially exposes the 0.9256-95 region (range top, 23.6% Fib retracement). Greg Moore, analyst from TDsecurities, suggest that “AUD/USD has run into some resistance at 0.9045/50, and the next key area above is 0.9160/9200”. At the time of writing, the pair is trading at 0.9031, up 0.63%, nearly its daily high as of 0.9040.. The FXstreet.com Trend Index shows the pair to be slightly bullish in the 15 minutes chart. Daily pivot point support can be found at 0.8949, 0.8926 and 0.8904, while resistance at 0.9050, 0.9063 and 0.9086, respectively.
Will the AUD/USD sustain its uptrend momentum above 0.9000 amidst war jitters?
The ‘Aussie’ is still the outperforming major currency of the day, as after the soft domestic data in recent weeks, traders were expecting a more dovish stance on behalf of RBA. However, the RBA let down the investors betting on that case-scenario, providing a statement that was very similar to last month.
TECHNICAL PERSPECTIVE ON AUD/USD
Investors might have in mind that a clear break above 0.9035 initially exposes the 0.9256-95 region (range top, 23.6% Fib retracement). Greg Moore, analyst from TDsecurities, suggest that “AUD/USD has run into some resistance at 0.9045/50, and the next key area above is 0.9160/9200”. At the time of writing, the pair is trading at 0.9031, up 0.63%, nearly its daily high as of 0.9040.. The FXstreet.com Trend Index shows the pair to be slightly bullish in the 15 minutes chart. Daily pivot point support can be found at 0.8949, 0.8926 and 0.8904, while resistance at 0.9050, 0.9063 and 0.9086, respectively.