The Australian Dollar (AUD) continues to climb off the recent low of 0.6185 against the US Dollar (USD) clocking 0.6490 this morning as markets enjoy the recent bout of “risk on”. A softer big dollar is also helping with improvements, we note recent moves may come up against resistance around the 0.6550 zone. The recent Fed pivot on policy with suggestions they may ease “hard” policy is doing the rounds and creating demand for risk assets. US advance GDP Friday for the September quarter is forecast to come in at 2.3%- markets will pay close attention to the release. US buyers should consider current levels.
Current Level: 0.6487
Resistance: 0.6750
Support: 0.6160
Last Weeks Range: 0.6199-0.6387