2 Feb 2015
AUD/USD: All about the RBA today - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the AUD/USD traded higher in range all through the last 2 sessions, supported by market talks about the RBA probably cutting rates during its upcoming meeting later today.
Key Quotes:
"The RBA has kept its main benchmark at 2.50% for fifteen consecutive months, but latest GPD reading, the lowest in almost 2 year, has boosted speculation the Central Bank may act today."
"Gold intraday recovery, closing almost flat after dipping down to the $1,266 area, has supported also the Aussie. Technically, the 1 hour chart presents a mild positive tone, as the price stands near its daily high and above a mild bullish 20 SMA, whilst indicators hold well into positive territory, albeit lacking upward strength."
"In the 4 hours chart latest advance has sent the price above its 20 SMA that maintains a strong bearish slope, whilst indicators hover around their midlines."
"It's all about the RBA today, with January 26th daily low around 0.7860 being the resistance level to break to confirm a steadier advance. Below 0.7770 on the other hand, risk will likely turn to the downside, 7back towards the 0.7600 price zone."
Key Quotes:
"The RBA has kept its main benchmark at 2.50% for fifteen consecutive months, but latest GPD reading, the lowest in almost 2 year, has boosted speculation the Central Bank may act today."
"Gold intraday recovery, closing almost flat after dipping down to the $1,266 area, has supported also the Aussie. Technically, the 1 hour chart presents a mild positive tone, as the price stands near its daily high and above a mild bullish 20 SMA, whilst indicators hold well into positive territory, albeit lacking upward strength."
"In the 4 hours chart latest advance has sent the price above its 20 SMA that maintains a strong bearish slope, whilst indicators hover around their midlines."
"It's all about the RBA today, with January 26th daily low around 0.7860 being the resistance level to break to confirm a steadier advance. Below 0.7770 on the other hand, risk will likely turn to the downside, 7back towards the 0.7600 price zone."