AUD/USD: steady-Eddy on RBA's FSR dovish release
|Currently, AUD/USD is trading at 0.7830, up 0.14% on the day, having posted a daily high at 0.7834 and low at 0.7817.
RBA Financial Stability Review: Higher interest rates could hurt heavily-indebted households
In its 60-page Financial Stability Review (FSR), the Reserve Bank of Australia (RBA) warns that interest rate hikes could hurt the heavily-indebted households.
AUD/USD has remained stable on the release, eventually tallying up all of 5 pips with traders instead awaiting Chinese macroeconomic calendar including September trade balance and money figures.
Meanwhile, the Aussie was supported overnight on not only a softer tone to the greenback but domestically and from a bid in metals in NY. Aussie bulls had taken control in yesterday's Asian session on the back of the positive domestic data for Australia.
Forex today: volatility in the pound and SEK, US dollar closed flat
AUD/USD levels
Valeria Bednarik, chief analyst at FXSytreet explained, that in the meantime, the short-term picture presents a modest bullish stance, as the price kept held near the mentioned daily high at the end of the day, having advanced above a bullish 20 SMA, and with technical indicators aiming higher within positive territory, after a modest downward correction. "Beyond the mentioned daily high the pair has scope to extend towards the 0.7900 region where selling interest will likely reject any potential advance," Valeria added.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.