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4 Mar 2014
AUD/USD awaiting Key events
FXStreet (Guatemala) - AUD/USD has been trading in a tight range through North America between 20 pips and sub the 0.8939 resistance.
Sean Callow, analyst at Westpac Banking Corporation ABN said Australia’s crowded calendar continues today with notable data and the RBA monthly meeting. “The RBA Board is of course firmly in neutral mode, limiting the tension over today’s meeting (2:30pmSyd/11:30am Sing/HK). In Feb the RBA concluded its statement by saying “the most prudent course is likely to be a period of stability in interest rates”, a phrase likely to be repeated after a month without major change in Australia’s outlook...”However it would be a big surprise if the RBA resumed its AUD jawboning after a mere one month pause, especially given the apparently substantial role AUD decline played in the Q4 inflation upside surprise”.
AUD/USD Levels
The 20 DMA is 0.8974, the 50 DMA is 0.8911 and the 200 DMA is 0.9183. RSI (14) reads 54.75. Supports are 0.8730, 0.8770, 0.8821, 0.8873. Spot is 0.8926 while resistances are 0.8939, 0.8975,0.8990 and 0.9026.
Sean Callow, analyst at Westpac Banking Corporation ABN said Australia’s crowded calendar continues today with notable data and the RBA monthly meeting. “The RBA Board is of course firmly in neutral mode, limiting the tension over today’s meeting (2:30pmSyd/11:30am Sing/HK). In Feb the RBA concluded its statement by saying “the most prudent course is likely to be a period of stability in interest rates”, a phrase likely to be repeated after a month without major change in Australia’s outlook...”However it would be a big surprise if the RBA resumed its AUD jawboning after a mere one month pause, especially given the apparently substantial role AUD decline played in the Q4 inflation upside surprise”.
AUD/USD Levels
The 20 DMA is 0.8974, the 50 DMA is 0.8911 and the 200 DMA is 0.9183. RSI (14) reads 54.75. Supports are 0.8730, 0.8770, 0.8821, 0.8873. Spot is 0.8926 while resistances are 0.8939, 0.8975,0.8990 and 0.9026.