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3 Jun 2014
AUD/USD still clear of key support ahead of RBA
FXStreet (Guatemala) - Currently, AUD/USD is trading at 0.9236, down -0.10% on the day, having posted a daily high at 0.9251 and low at 0.9234.
AUD/USD is very much under the spotlight this week. Sean Callow, analyst at Westpac Banking Corporation ABN explains that AUD/USD extended its local session decline on the building approvals numbers only slightly, to 0.9235, still well clear of key support at 0.9200/10. Today’s crowded calendar will determine whether the broad 0.92-0.94 range still holds. First up we have the RBA decision and statement, and Ivan Delgado, head of Asian Editors explained that “there is some market talk that today, the central bank may struck a more dovish tone amid falling consumer confidence, housing sales slowing down, the index of commodity prices declining and disappointing retail sales. These factors have led some market commentators to speculate that the RBA may also step up its verbal campaign against the Australian Dollar”.
AUD/USD Levels
Current price is 0.9236, with resistance ahead at 0.9236 (Weekly Low), 0.9237 (Weekly Classic S1), 0.9244 (Daily Classic S3), 0.9246 (Daily Open) and 0.9251 (Daily High). Next support to the downside can be found at 0.9234 (Daily Low), 0.9233 (Yesterday's Low), 0.9222 (Monthly Low), 0.9178 (Daily 200 SMA) and 0.9164 (Weekly Classic S2).
AUD/USD is very much under the spotlight this week. Sean Callow, analyst at Westpac Banking Corporation ABN explains that AUD/USD extended its local session decline on the building approvals numbers only slightly, to 0.9235, still well clear of key support at 0.9200/10. Today’s crowded calendar will determine whether the broad 0.92-0.94 range still holds. First up we have the RBA decision and statement, and Ivan Delgado, head of Asian Editors explained that “there is some market talk that today, the central bank may struck a more dovish tone amid falling consumer confidence, housing sales slowing down, the index of commodity prices declining and disappointing retail sales. These factors have led some market commentators to speculate that the RBA may also step up its verbal campaign against the Australian Dollar”.
AUD/USD Levels
Current price is 0.9236, with resistance ahead at 0.9236 (Weekly Low), 0.9237 (Weekly Classic S1), 0.9244 (Daily Classic S3), 0.9246 (Daily Open) and 0.9251 (Daily High). Next support to the downside can be found at 0.9234 (Daily Low), 0.9233 (Yesterday's Low), 0.9222 (Monthly Low), 0.9178 (Daily 200 SMA) and 0.9164 (Weekly Classic S2).