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1 Aug 2014
AUD/USD held up on 0.93 handle – RBA next up
FXStreet (Guatemala) - AUD/USD is trading at 0.9310, up 0.17% on the day, having posted a daily high at 0.9338 and low at 0.9275.
AUD/USD has reclaimed the 0.93 handle post the disappointments in the US labour market but is held up on the positive and robust ISM manufacturing index. We now look ahead to the RBA Decision, Tues 5 Aug. Analysts at TD Securities explained that Tuesday’s RBA Board meeting is expected to repeat the “period of stability” for the 2.5% cash rate, followed by a likely not-dovish Statement on Monetary Policy on Friday. “We could see minor upgrades to GDP and CPI, but this time not due to AUD fluctuations but rather via higher than expected outcomes”.
AUD/USD Levels
Current price is 0.9311, with resistance ahead at 0.9322 (Daily 100 SMA), 0.9327 (Daily Classic R1), 0.9334 (Yesterday's High), 0.9338 (Daily High) and 0.9344 (Weekly Classic S1). Next support to the downside can be found at 0.9300 (Hourly 20 EMA) and 0.9295 (July lows).
AUD/USD has reclaimed the 0.93 handle post the disappointments in the US labour market but is held up on the positive and robust ISM manufacturing index. We now look ahead to the RBA Decision, Tues 5 Aug. Analysts at TD Securities explained that Tuesday’s RBA Board meeting is expected to repeat the “period of stability” for the 2.5% cash rate, followed by a likely not-dovish Statement on Monetary Policy on Friday. “We could see minor upgrades to GDP and CPI, but this time not due to AUD fluctuations but rather via higher than expected outcomes”.
AUD/USD Levels
Current price is 0.9311, with resistance ahead at 0.9322 (Daily 100 SMA), 0.9327 (Daily Classic R1), 0.9334 (Yesterday's High), 0.9338 (Daily High) and 0.9344 (Weekly Classic S1). Next support to the downside can be found at 0.9300 (Hourly 20 EMA) and 0.9295 (July lows).