Forex: AUD/USD in session highs

FXstreet.com (Barcelona) - The Aussie dollar is posting fresh highs against the greenback on Friday, as increasing risk appetite is still fuelling the upside in the high-beta currencies. The cross is clinging to the key resistance at 1.0400 ahead of a reduced session in Wall St, and within the context of the EU Summit in Brussels.

Despite the empty docket in Australia and ahead of next RBA meeting, analyst Adrian Foster at Rabobank comments "Interesting to note that the Big 4 Aussie banks are split on expectations for the coming RBA policy meeting in just over a week's time. Two forecast a cut whilst two see the outcome being no change&ANZ and Westpac forecast 25bps rate cut whilst CBA and the NAB forecast no change to policy".

" The Futures market is 57% priced for a 25bps rate cut so we have one of those rare occasions when the analyst and investment communities are in agreement about the prospects for the December meeting; the two numbers are essentially the same in this context", concludes the expert.

AUDUSD is advancing 0.21% at 1.0411 with the next resistance at 1.0425 (high Nov.20) followed by 1.0440 (Upper Bollinger) and then 1.0459 (high Nov.14).
On the downside, a break below 1.0315 (Lower Bollinger) would open the door to 1.0312 (MA200d) and finally 1.0287 (low Nov.16).