FX News

AUD/USD Transfer

The Australian Dollar (AUD) opened the week in similar zones around 0.6600 against the US Dollar (USD) as markets await today’s RBA rate decision. If anything, The Aussie has pushed up a little in early morning trading from 0.6580 on positive Chinese Retail Sales data printing at 3.7% y/y vs 3.0% expected- 2.3% prior. Today’s RBA rate announcement will remain unchanged at 4.35%. Bullocks statement should highlight if its time yet to change policy after suggestions over the past few weeks proposed the door was still open for further hikes. For now, setbacks are well supported in the Aussie following the run up from 0.6360.

Current Level: 0.667
Support: 0.6570
Resistance: 0.6715
Last week’s range: 0.6573- 0.6703

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