AUD/USD boosted by RBA
The AUD saw its demand boosted after the RBA left its monetary policy unchanged in today’s meeting, with the refi rate intact at 2.5%. The tone and communiqué of the central banks were almost a repetition from previous meetings, giving extra oxygen to the Australian dollar. Other data in Oz showed Building Permits rising 11.4% inter-month during October and the Current Account deficit shrinking to A$12.5 billion in Q3 from A$13.9 billion. “The current movement is likely part of a consolidation range. Expect sideway trading for today, likely between 0.8450 and 0.8530”, noted strategists at UOB Group.
AUD/USD key levels
At the moment the pair is advancing 0.25% at 0.8524 with the next resistance at 0.8533 (high Dec.1) followed by 0.8545 (high Nov.28) and then 0.8587 (10-d MA). On the flip side, a breakdown of 0.8478 (hourly low Dec.1) would aim for 0.8417 (low Dec.1) and finally 0.8315 (low Jul1.2010).
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.