2 Feb 2015
AUD/USD subdued below 0.7800
FXStreet (Edinburgh) - The Aussie dollar is now trading almost unchanged vs. the US dollar, with AUD/USD navigating the 0.7785/80 area.
AUD/USD focus on the RBA
The AUD keeps grinding lower in anticipation of a potential rate cut by the RBA in tomorrow’s meeting, trading in levels last seen in July 2009 around 0.7700 the figure. The recent and surprising rate cut by the BoC last week increased the likeliness of the rate cut by the RBA on Tuesday, as both the CAD and AUD share the same space within the commodities bloc.
AUD/USD relevant levels
The pair is now advancing 0.06% at 0.7790 with the immediate resistance at 0.7884 (high Jan.29) ahead of psychological levels at 0.7900 and 0.8000. On the downside, a breach below 0.7731 (low Jan.30) would open the door to 0.7720 (low Jan.29) and finally 0.7700 (psychological level).
AUD/USD focus on the RBA
The AUD keeps grinding lower in anticipation of a potential rate cut by the RBA in tomorrow’s meeting, trading in levels last seen in July 2009 around 0.7700 the figure. The recent and surprising rate cut by the BoC last week increased the likeliness of the rate cut by the RBA on Tuesday, as both the CAD and AUD share the same space within the commodities bloc.
AUD/USD relevant levels
The pair is now advancing 0.06% at 0.7790 with the immediate resistance at 0.7884 (high Jan.29) ahead of psychological levels at 0.7900 and 0.8000. On the downside, a breach below 0.7731 (low Jan.30) would open the door to 0.7720 (low Jan.29) and finally 0.7700 (psychological level).