AUD/USD: Capped and eyes now on the 21-DMA


  • AUD/USD traders look to the RBa for signals.
  • Data impresses and RBA more upbeat in tone. 

Capped on the upside, bears aim for the 21-Day moving avrage but, AUD/USD is flat in the open, having risen from 0.6830 to 0.6858 (a one-month high) on Friday, opening at 0.6845 within a 10 pip range.

The Aussie rode the waves last week unemployment drop and the Brexit-related bounce spurred on risk positive sentiment,  making a marginal new 1 month high at 0.6839. 

"There was little reaction to RBA governor Lowe’s upbeat tone from the IMF meetings in Washington DC but pricing for a Nov rate cut was lower than as of late Thursday, which helps AUD," analysts at Westpac explained. 

RBA in focus

RBA's Govenor Lowe spoke at an IMF forum in Washington and came across more upbeat, essentially downplaying the odds of the RBA needing to cut stating "I don't think it's the right assumption to make that we're going to have a lot more work to do to get inflation back to target and growth back to trend."

Additionally, he said "Actually, the economy has been through a soft patch over the last year but it's actually gradually improving," he said. On non-conventional monetary policy he said, "I'm not going to speculate on negative interest rates and quantitative easing in Australia, other than to say negative interest rates are extraordinarily unlikely in my country."

AUD/USD levels

AUD/USD

Overview
Today last price 0.685
Today Daily Change -0.0004
Today Daily Change % -0.06
Today daily open 0.6854
 
Trends
Daily SMA20 0.676
Daily SMA50 0.678
Daily SMA100 0.6859
Daily SMA200 0.697
 
Levels
Previous Daily High 0.6858
Previous Daily Low 0.682
Previous Weekly High 0.6858
Previous Weekly Low 0.672
Previous Monthly High 0.6895
Previous Monthly Low 0.6687
Daily Fibonacci 38.2% 0.6843
Daily Fibonacci 61.8% 0.6835
Daily Pivot Point S1 0.683
Daily Pivot Point S2 0.6806
Daily Pivot Point S3 0.6792
Daily Pivot Point R1 0.6868
Daily Pivot Point R2 0.6882
Daily Pivot Point R3 0.6906

 

 

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