Forex: AUD/USD hovering around 1.0420
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AUD/USD
FXstreet.com (Barcelona) - The Aussie dollar is extending the downside after climbing to the proximities of 1.0480 on Wednesday, propelled by the risk rally sparked after President Obama's re-election.
This week's upside in AUD is well supported by the RBA decision of leaving the repo rate unchanged at 3.25% last Tuesday.
This morning, the jobless rate in Australia stayed at 5.4% during October, below estimates and matching September's print. The RBA statement will be released tomorrow, closing the weekly docket for the Aussie.
AUDUSD is now up 0.05% at 1.0414 facing the next resistance at 1.0480 (high Nov.7) ahead of 1.0519 (high Sep.21) then 1.0545 (hourly high/low Sep.17) and 1.0564 (high Sep.17).
On the downside, a break below 1.0410 (hourly lows Nov.6) would open the door to 1.0375 (hourly highs Nov.6) then 1.0331 (low Nov.2) and 1.0326 (low Oct.30).
This week's upside in AUD is well supported by the RBA decision of leaving the repo rate unchanged at 3.25% last Tuesday.
This morning, the jobless rate in Australia stayed at 5.4% during October, below estimates and matching September's print. The RBA statement will be released tomorrow, closing the weekly docket for the Aussie.
AUDUSD is now up 0.05% at 1.0414 facing the next resistance at 1.0480 (high Nov.7) ahead of 1.0519 (high Sep.21) then 1.0545 (hourly high/low Sep.17) and 1.0564 (high Sep.17).
On the downside, a break below 1.0410 (hourly lows Nov.6) would open the door to 1.0375 (hourly highs Nov.6) then 1.0331 (low Nov.2) and 1.0326 (low Oct.30).
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