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18 Mar 2014
RBA minutes next: Impact on the AUD/USD
FXStreet (Bali) - AUD/USD was on a steady climb on Monday, printing higher highs and higher lows consistently until faced with decent selling interest at 0.9095/.91 resistance, high so far.
Crimea turns out to be risk positive
AUD managed to top the top performing currencies on Monday, well underpinned by buoyant global equities, which extended its relief rally after the Crimer referendum turned out to be a non-event. The persistent buying in AUD/JPY was also a supporting driver to a higher AUD/USD amid broad-based US Dollar weakness, as the DXY continues depressed approaching the 79.00 strong support.
RBA minutes eyed
Ahead of the RBA minutes, the market does not expect any major price disturbance given how firmly neutral the central bank is. Price action looks fairly constructive to attract did buyers, barring any major bombshell from the RBA (ie/ up rhetoric against AUD level...).
AUD/USD key levels
The next areas of support for the AUD/USD can be found at 0.9070 ahead of 0.9040/50 (additional trendlines can be drawn to add confluence), while on the upside, key resistance level is at March 7 high circa 0.9135/40 up to 0.9150, where the 200-day MA converges.
Crimea turns out to be risk positive
AUD managed to top the top performing currencies on Monday, well underpinned by buoyant global equities, which extended its relief rally after the Crimer referendum turned out to be a non-event. The persistent buying in AUD/JPY was also a supporting driver to a higher AUD/USD amid broad-based US Dollar weakness, as the DXY continues depressed approaching the 79.00 strong support.
RBA minutes eyed
Ahead of the RBA minutes, the market does not expect any major price disturbance given how firmly neutral the central bank is. Price action looks fairly constructive to attract did buyers, barring any major bombshell from the RBA (ie/ up rhetoric against AUD level...).
AUD/USD key levels
The next areas of support for the AUD/USD can be found at 0.9070 ahead of 0.9040/50 (additional trendlines can be drawn to add confluence), while on the upside, key resistance level is at March 7 high circa 0.9135/40 up to 0.9150, where the 200-day MA converges.