Forex: AUD/USD extending the upside, RBA eyed
Forex pairs in this Article »
AUD/USD
FXstreet.com (Barcelona) - The Aussie dollar is markedly advancing against the greenback at the beginning of the week, as risk-off trade is gathering pace. AUD is extending the rally sparked in early June, totally retracing May downside as of writing, although failing to folllow through the key resistance at 1.0600
Thin docket as well for the Australian economy, where the main events will be tomorrow's release of the RBA minutes and Governor G.Stevens speech later on in the week.
The cross is now up 0.25% at 1.0448 with the next resistance at 1.0475 (low Aug.16) followed by 1.0529 (high Aug.15) then 1.0541 (high Aug.14) and 1.0578 (high Aug.10).
On the flip side, a breach of the psychological level at 1.0400 would bring 1.0384 (low Jul.27) then 1.0337 (high Jul.25) and 1.0300 (psychological level).
Thin docket as well for the Australian economy, where the main events will be tomorrow's release of the RBA minutes and Governor G.Stevens speech later on in the week.
The cross is now up 0.25% at 1.0448 with the next resistance at 1.0475 (low Aug.16) followed by 1.0529 (high Aug.15) then 1.0541 (high Aug.14) and 1.0578 (high Aug.10).
On the flip side, a breach of the psychological level at 1.0400 would bring 1.0384 (low Jul.27) then 1.0337 (high Jul.25) and 1.0300 (psychological level).
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