Forex: AUD/USD extends its upside
Forex pairs in this Article »
AUD/USD
FXstreet.com (Barcelona) - The Aussie dollar is extending its upside on Wednesday, boosted after US President Obama was re-elected last night, giving an extra push to the high-beta currencies.
AUD was already buoyant after the central bank commanded by G.Stevens has left the lending benchmark intact at 3.25% on Tuesday, broadly against consensus. The measure was justified in a better prospect in the Chinese economy, and improvement in some Australian commodity prices.
At the moment the cross is up 0.43% at 1.0480 facing the next resistance at 1.0519 (high Sep.21) ahead of 1.0545 (hourly high/low Sep.17).
On the downside, a penetration of 1.0410 (hourly lows Nov.6) would bring 1.0375 (hourly highs Nov.6) and then 1.0331 (low Nov.2).
AUD was already buoyant after the central bank commanded by G.Stevens has left the lending benchmark intact at 3.25% on Tuesday, broadly against consensus. The measure was justified in a better prospect in the Chinese economy, and improvement in some Australian commodity prices.
At the moment the cross is up 0.43% at 1.0480 facing the next resistance at 1.0519 (high Sep.21) ahead of 1.0545 (hourly high/low Sep.17).
On the downside, a penetration of 1.0410 (hourly lows Nov.6) would bring 1.0375 (hourly highs Nov.6) and then 1.0331 (low Nov.2).
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