4 Feb 2014
AUD/USD rushes above 0.8800 on RBA decision
The Aussie was sitting close to intraday lows waiting impatiently for the RBA decision. As soon as the news hit the wires the pair rushed above 0.8800 and set the current high at 0.8830; now it is trading at 0.8820.
RBA decision is in the limelight
AUD/USD grew steadily yesterday during European hours and even broke above 0.8800, but the movement was not sustained and the pair finished the day below that key level. Today morning weaker than expected Australian Building Approvals data pushed the AUD/USD to the intraday low of 0.8727, but the big risk factor - RBA meeting came into play and helped the Aussie to restore some ground in anticipation. As soon as the news hit the wires and we learned that the RBA left the rate unchanged, which was widely expected, the Aussie rushed to the area above 0.8800. Though this was the accompanying statement the markets reacted to, as the central bank stressed that stability in rates is required to ensure the growth of the economy. It means that RBA does not have plans to further ease its monetary policy. Keep a close look at the resistance of 0.8850, once it is broken the movement might accelerate to 0.8900.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.8774, with support below at 0.8714, 0.8676 and 0.8616, with resistance above at 0.8812, 0.8872 and 0.8910. Hourly Moving Averages are bearish, with the 200SMA at 0.8764 and the daily 20EMA at 0.8819. Hourly RSI is neutral at 44.
RBA decision is in the limelight
AUD/USD grew steadily yesterday during European hours and even broke above 0.8800, but the movement was not sustained and the pair finished the day below that key level. Today morning weaker than expected Australian Building Approvals data pushed the AUD/USD to the intraday low of 0.8727, but the big risk factor - RBA meeting came into play and helped the Aussie to restore some ground in anticipation. As soon as the news hit the wires and we learned that the RBA left the rate unchanged, which was widely expected, the Aussie rushed to the area above 0.8800. Though this was the accompanying statement the markets reacted to, as the central bank stressed that stability in rates is required to ensure the growth of the economy. It means that RBA does not have plans to further ease its monetary policy. Keep a close look at the resistance of 0.8850, once it is broken the movement might accelerate to 0.8900.
What are today’s key AUD/USD levels?
Today's central pivot point can be found at 0.8774, with support below at 0.8714, 0.8676 and 0.8616, with resistance above at 0.8812, 0.8872 and 0.8910. Hourly Moving Averages are bearish, with the 200SMA at 0.8764 and the daily 20EMA at 0.8819. Hourly RSI is neutral at 44.