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3 Mar 2015
AUD/USD: Lined up ahead of RBA
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7761 with a high of 0.7767 and a low of 0.7759.
AUD/USD is lined up and consolidated awaiting the RBA decision later today in Sydney. "The RBA meeting is finely-balanced but our best guess is that rates will stay on hold and a pro-risk market mood added to a slight rise in market rates could take AUD/USD up to/through 0.8000", - Kit Juckes, chief FX strategist at Societe Generale.
Technically, we are confined by the downtrend at 0.7918 downtrend, and this will be a key area of resistance on any attempts back to the upside. However, as Karen Jones, chief analyst at Commerzbank explained, "Failure here is likely to see a slide back to the 0.7740 initial support ahead of 0.7627 the February low."
AUD/USD is lined up and consolidated awaiting the RBA decision later today in Sydney. "The RBA meeting is finely-balanced but our best guess is that rates will stay on hold and a pro-risk market mood added to a slight rise in market rates could take AUD/USD up to/through 0.8000", - Kit Juckes, chief FX strategist at Societe Generale.
Technically, we are confined by the downtrend at 0.7918 downtrend, and this will be a key area of resistance on any attempts back to the upside. However, as Karen Jones, chief analyst at Commerzbank explained, "Failure here is likely to see a slide back to the 0.7740 initial support ahead of 0.7627 the February low."