19 May 2015
AUD/USD: Awaits RBA minutes sighted as dovish
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7988 with a high of 0.8000 and a low of 0.7981.
AUD/USD is carving out the downside ahead of the RBA minutes coming up in the hour. The greenback has been swooping up gains across the board overnight and all majors have been on the back foot. However, we are sitting tight for the minutes and this could spark a domestic sell off on a dovish tone that is anticipated by most markets participants.
We were equipped by the RBA with signals from their recent quarterly Statement on Monetary Policy when they expressed they they will assess the outlook of the economy and they will adjust accordingly when need be. Just this week, Lowe offered the same sentiment in his speech. Technically, the major is better offered below the 0.80 handle with the 100 SMA at 0.8036 creating downward pressure.
AUD/USD is carving out the downside ahead of the RBA minutes coming up in the hour. The greenback has been swooping up gains across the board overnight and all majors have been on the back foot. However, we are sitting tight for the minutes and this could spark a domestic sell off on a dovish tone that is anticipated by most markets participants.
We were equipped by the RBA with signals from their recent quarterly Statement on Monetary Policy when they expressed they they will assess the outlook of the economy and they will adjust accordingly when need be. Just this week, Lowe offered the same sentiment in his speech. Technically, the major is better offered below the 0.80 handle with the 100 SMA at 0.8036 creating downward pressure.