Back
4 Aug 2014
AUD/USD: retail sales effect was short-lived
FXStreet (Moscow) - AUD/USD retraced from Asian high of 0.9332, reached on the back of better than expected Australian retail sales data, and settled at 0.9320 level.
All eyes on RBA
AUD/USD lived through a difficult week as it dropped from the upper side of its recent mid-term range right to its lower border. The bears tried hard to get it closed below 0.93 handle, but weaker than expected US labour market statistics, put a wet blanket on them. Now the Aussie traders are focused solely on RBA monetary policy meeting, scheduled on Tuesday. Thus, considering nearly empty US calendar today, Aussie may spend Monday in a range, as the bears might refrain from active actions before the key risk event. Though no rate change is expected, markets are eager to hear RBA’s comments about the latest inflation data. Most likely, RBA will maintain a neutral bias, but any hawkish hints will be used as a pretext to by AUD/USD from the channel base and up to 0.94 handle.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9309, with support below at 0.9280, 0.9246 and 0.9217, with resistance above at 0.9343, 0.9372 and 0.9406. Hourly Moving Averages are bearish with the 200SMA bearish at 0.9379 and the daily 20EMA bearish at 0.9373. Hourly RSI is bullish at 60.
All eyes on RBA
AUD/USD lived through a difficult week as it dropped from the upper side of its recent mid-term range right to its lower border. The bears tried hard to get it closed below 0.93 handle, but weaker than expected US labour market statistics, put a wet blanket on them. Now the Aussie traders are focused solely on RBA monetary policy meeting, scheduled on Tuesday. Thus, considering nearly empty US calendar today, Aussie may spend Monday in a range, as the bears might refrain from active actions before the key risk event. Though no rate change is expected, markets are eager to hear RBA’s comments about the latest inflation data. Most likely, RBA will maintain a neutral bias, but any hawkish hints will be used as a pretext to by AUD/USD from the channel base and up to 0.94 handle.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.9309, with support below at 0.9280, 0.9246 and 0.9217, with resistance above at 0.9343, 0.9372 and 0.9406. Hourly Moving Averages are bearish with the 200SMA bearish at 0.9379 and the daily 20EMA bearish at 0.9373. Hourly RSI is bullish at 60.