AUD/USD erases post RBA gains as dollar strength continues

AUD/USD started the session well trading close to recent highs.
After today's data now AUD/USD only trades 0.17% higher for the session.

Rajan Dhall, MSTA FX Daily

AUD/USD was 0.75% higher on the session at one point today as commodities traded higher.

Also overnight we had the latest from the RBA who left rates unchanged as expected.

Although the RBA were not expected to move on rates some analysts were expecting the central bank to be slightly more dovish.

Prior to the meeting calls for a rate cut in December were higher with some institutions pricing in a cut at 90%.

After the meeting, those calls have shortened significantly as the RBA noted it could still achieve its 2% inflation target.

On the downside, the consolidation low stands at 0.6873 and traders will be watching the support for any signs of weakness.

AUD/USD

Overview
Today last price	0.6895
Today Daily Change	0.0012
Today Daily Change %	0.17
Today daily open	0.6883

Trends
Daily SMA20	0.6824
Daily SMA50	0.6801
Daily SMA100	0.685
Daily SMA200	0.6954

Levels
Previous Daily High	0.6926
Previous Daily Low	0.6876
Previous Weekly High	0.693
Previous Weekly Low	0.681
Previous Monthly High	0.693
Previous Monthly Low	0.667
Daily Fibonacci 38.2%	0.6895
Daily Fibonacci 61.8%	0.6907
Daily Pivot Point S1	0.6864
Daily Pivot Point S2	0.6845
Daily Pivot Point S3	0.6814
Daily Pivot Point R1	0.6914
Daily Pivot Point R2	0.6945
Daily Pivot Point R3	0.6964

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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