3 Sep 2013
AUD/USD capped by 0.9050 post-RBA
FXstreet.com (Edinburgh) -The RBA left the refi rate unchanged at 2.5% in today’s meeting, lifting the AUD/USD to fresh weekly highs in the vicinity of 0.9050.
AUD/USD firmer, but long-term remains bearish
The pair has been well supported by a favourable context to the riskier assets in the last couple of session, and the RBA decision today just add to the upbeat tone. According to Lee Hardman, Currency Analyst at BTMU, “The RBA also appears more confident that past policy easing over the last eighteen months will continue to lead to an improving economic outlook ahead hinting at a return to trend growth beyond the near-term. The RBA also reiterated previous comments regarding the Australian dollar stating that it remains at a high level and may decline further over time”.
AUD/USD key levels
The pair is now up 0.69% at 0.9037 with the next resistance at 0.9055 (MA30d) followed by 0.9070 (high Aug.26) and then 0.9133 (high Aug.20). On the downside, a break below 0.8973 (low Sep.3) would aim for 0.8924 (low Sep.2) and finally 0.8891 (low Aug.28).
AUD/USD firmer, but long-term remains bearish
The pair has been well supported by a favourable context to the riskier assets in the last couple of session, and the RBA decision today just add to the upbeat tone. According to Lee Hardman, Currency Analyst at BTMU, “The RBA also appears more confident that past policy easing over the last eighteen months will continue to lead to an improving economic outlook ahead hinting at a return to trend growth beyond the near-term. The RBA also reiterated previous comments regarding the Australian dollar stating that it remains at a high level and may decline further over time”.
AUD/USD key levels
The pair is now up 0.69% at 0.9037 with the next resistance at 0.9055 (MA30d) followed by 0.9070 (high Aug.26) and then 0.9133 (high Aug.20). On the downside, a break below 0.8973 (low Sep.3) would aim for 0.8924 (low Sep.2) and finally 0.8891 (low Aug.28).