Forex: AUD/USD consolidate gains above 1.0500
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AUD/USD
FXstreet.com (Barcelona) - The Aussie dollar has quickly left behind the key barrier at 1.0500 on Tuesday, propelled by the increasing risk appetite. After a knee jerk in the market on the Westpac Consumer Confidence index, falling to -4.1% in December from the previous +5.2%, the AUD has managed to pare those early losses and trade back to the positive territory as of writing.
According to analyst Sean Callow at Westpac, "The survey captured the response to news including the RBA rate cut, poor GDP and decent jobs data. RBA Governor Stevens speaks in Thailand but isn't expected to discuss monetary policy".
AUDUSD is up 0.09% at 1.0540 facing the next resistance at 1.0564 (high Sep.17) ahead of the psychological level at 1.0600 and 1.0625 (high Sep.14).
On the downside, a break below 1.0485 (hourly high/low Dec.11) would aim to 1.0472 (MA10d) and then 1.0460 (low Dec.11).
According to analyst Sean Callow at Westpac, "The survey captured the response to news including the RBA rate cut, poor GDP and decent jobs data. RBA Governor Stevens speaks in Thailand but isn't expected to discuss monetary policy".
AUDUSD is up 0.09% at 1.0540 facing the next resistance at 1.0564 (high Sep.17) ahead of the psychological level at 1.0600 and 1.0625 (high Sep.14).
On the downside, a break below 1.0485 (hourly high/low Dec.11) would aim to 1.0472 (MA10d) and then 1.0460 (low Dec.11).
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