5 Nov 2013
AUD/USD extends the rebound
FXstreet.com (Edinburgh) -After dipping to the vicinity of 0.9460, the AUD managed to gather steam and push the AUD/USD back to the area of 0.9480/90 on Monday.
AUD/USD hurt by RBA
The central bank commanded by G.Stevens left the refi rate unchanged at 2.5% in today’s meeting, broadly in line with market expectations. However, a dovish biased communiqué remarking the high levels of the Aussie sparked a short-lived knee jerk to session lows, although the pair recovered soon after. Lee Hardman, Currency Analyst at BTMU, commented, “Overall the RBA appears to have maintained its monetary easing bias for now although further easing is not imminent with cyclical economic momentum in Australia continuing to improve”.
AUD/USD levels to watch
As of writing the pair is losing 0.40% at 0.9475 with the next support at 0.9389 (low Oct.7) followed by 0.9385 (MA50d) and then 0.9280 (low Sep.30). On the upside, a surpass of 0.9530 (high Sep.18) would expose 0.9600 (psychological level) and finally 0.9624 (high Oct.25).
AUD/USD hurt by RBA
The central bank commanded by G.Stevens left the refi rate unchanged at 2.5% in today’s meeting, broadly in line with market expectations. However, a dovish biased communiqué remarking the high levels of the Aussie sparked a short-lived knee jerk to session lows, although the pair recovered soon after. Lee Hardman, Currency Analyst at BTMU, commented, “Overall the RBA appears to have maintained its monetary easing bias for now although further easing is not imminent with cyclical economic momentum in Australia continuing to improve”.
AUD/USD levels to watch
As of writing the pair is losing 0.40% at 0.9475 with the next support at 0.9389 (low Oct.7) followed by 0.9385 (MA50d) and then 0.9280 (low Sep.30). On the upside, a surpass of 0.9530 (high Sep.18) would expose 0.9600 (psychological level) and finally 0.9624 (high Oct.25).