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28 Mar 2013
Forex: AUD/USD grinding lower, around 1.0430
FXstreet.com (Barcelona) - The Aussie dollar is trading on the back foot on Thursday, falling from session highs in the boundaries of 1.0460 to the current region of 1.0430
Data-wise, Australian Private Sector Credit expanded 0.2% MoM and 3.4% on a yearly basis in February vs. January’s 0.2% and 3.6%, respectively.
“Barring a weekend global meltdown, the RBA will stay on hold at Tuesday’s meeting… Looking ahead for the rest of the year, the market is pricing about 20 basis points of easing for the next 12 months, a 80% probability of one more rate cut”, commented Robert Henderson, Analyst at NAB.
As of writing, the cross is sown 0.10% at 1.0432 with the immediate support at 1.0414 (daily cloud top) ahead of 1.0409 (MA100d) and then 1.0363 (low Mar.21).
On the flip side, a breakout of 1.0460 (prior hourly lows) would bring 1.0499 (high Mar.27) and finally 1.0555 (high Jan.24).
Data-wise, Australian Private Sector Credit expanded 0.2% MoM and 3.4% on a yearly basis in February vs. January’s 0.2% and 3.6%, respectively.
“Barring a weekend global meltdown, the RBA will stay on hold at Tuesday’s meeting… Looking ahead for the rest of the year, the market is pricing about 20 basis points of easing for the next 12 months, a 80% probability of one more rate cut”, commented Robert Henderson, Analyst at NAB.
As of writing, the cross is sown 0.10% at 1.0432 with the immediate support at 1.0414 (daily cloud top) ahead of 1.0409 (MA100d) and then 1.0363 (low Mar.21).
On the flip side, a breakout of 1.0460 (prior hourly lows) would bring 1.0499 (high Mar.27) and finally 1.0555 (high Jan.24).