AUD/USD: steady-Eddy on RBA's FSR dovish release

Ross J Burland FXStreet

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.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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