16 Jul 2013
AUD/USD sideways trading at 0.9100 ahead of RBA
FXstreet.com (New York) - The AUD/USD technical pair has maintained a tight grip on the 0.9100 Tuesday morning during Asian trading.
AUD/USD event risk
One day removed from a tranche of economic data in China, investors will now turn their attention to the RBA minutes at 01:30 GMT in Australia. Having had a full two weeks to digest the latest interest rate decision, its unlikely that the RBA will release anything groundbreaking.
The AUD/USD has now settled at the 0.9099 handle (20-day SMA), notching an advance of +0.02% Tuesday during Asian trading. On the ascension, resistances can be found at 0.9120 (July 15 high), onto 0.9137 (July 9 low), and 0.9196 (July 9 high).
AUD/USD strategic bias
According to Analyst Karen Jones at Commerzbank, “While the market may see some near-term consolidation in the AUD/USD around the 0.9000 level (we note once more the divergence of the daily RSI), near-term rebounds are likely to remain quite tepid, and unlikely much higher than 0.9100.”
AUD/USD event risk
One day removed from a tranche of economic data in China, investors will now turn their attention to the RBA minutes at 01:30 GMT in Australia. Having had a full two weeks to digest the latest interest rate decision, its unlikely that the RBA will release anything groundbreaking.
The AUD/USD has now settled at the 0.9099 handle (20-day SMA), notching an advance of +0.02% Tuesday during Asian trading. On the ascension, resistances can be found at 0.9120 (July 15 high), onto 0.9137 (July 9 low), and 0.9196 (July 9 high).
AUD/USD strategic bias
According to Analyst Karen Jones at Commerzbank, “While the market may see some near-term consolidation in the AUD/USD around the 0.9000 level (we note once more the divergence of the daily RSI), near-term rebounds are likely to remain quite tepid, and unlikely much higher than 0.9100.”