Tuesday, October 6, 2015

AUD/USD waiting for RBA; will we see a surprise cut?

FXStreet (Guatemala) - AUD/USD is currently trading at 0.7081 with a high of 0.7091 and a low of 0.7077.

AUD/USD is now awaiting the RBA rate decision> today. The price has stabilized after a choppy ascent falling shy of the 0.71 handle with risk returning to the scene.

European markets were up 3% while Wall Street followed suit in a risk-on environment overnight, with the S&P 500 finishing up around 1.8%. Commodities were also picked up by investors with copper up 1.4%. The Nonfarm Payrolls has instigated a new environment where doubts have been cast over whether the Fed can hike rates this year and exposes the upside in the Aussie.

AUD/USD levels

Technically, AUD/USD remains in the bearish trend and contained by the 50 DMA on the upside, currently trading at 0.7164. A break on to the 0.72 handle would alleviate some pressures until 0.76 as the key resistance and downtrend from June's business. On a continued bearish theme, below the recent lows lies the September lows of 0.6940 ahead of 0.6905 and the 2004 low at 0.6774.
For more information, read our latest forex news.

No comments:

Post a Comment