AUD/USD climbs to highs near 0.8540

FXStreet (Edinburgh) - The bid tone is back around the Aussie dollar on Tuesday, lifting AUD/USD to intraday highs in the vicinity of 0.8540.

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).

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