28 Jun 2013
AUD/USD extends the correction lower
Fxstreet.com (Edinburgh) - After hitting fresh weekly highs around 0.9350 on Wednesday, the AUD/USD started a corrective downside to the current levels of 0.9240.
AUD/USD under pressure ahead of RBA
The biggest event for the Aussie dollar will be the RBA monetary policy meeting due next week, and in the wake of today’s credit data in Australia, Analyst S.Papadopoulos at NAB commented, “Today’s report will not sway the RBA too much. It confirms the weak demand
for credit that is contributing to their easing bias. But doesn’t alter the odds for next week when we expect the RBA to remain on hold”.
AUD/USD key levels
At the moment the pair is down 0.30% at 0.9249 with the next support at 0.9236 (low Jun.26) ahead of 0.9197 9low Jun.25) and then 0.9148 (2013 low Jun.24). On the flip side, a breakout of 0.9340 (high Jun.27) would target 0.9345 (high Jun.26) en route to 0.9394 (38.2% of 0.9792-0.9148).
AUD/USD under pressure ahead of RBA
The biggest event for the Aussie dollar will be the RBA monetary policy meeting due next week, and in the wake of today’s credit data in Australia, Analyst S.Papadopoulos at NAB commented, “Today’s report will not sway the RBA too much. It confirms the weak demand
for credit that is contributing to their easing bias. But doesn’t alter the odds for next week when we expect the RBA to remain on hold”.
AUD/USD key levels
At the moment the pair is down 0.30% at 0.9249 with the next support at 0.9236 (low Jun.26) ahead of 0.9197 9low Jun.25) and then 0.9148 (2013 low Jun.24). On the flip side, a breakout of 0.9340 (high Jun.27) would target 0.9345 (high Jun.26) en route to 0.9394 (38.2% of 0.9792-0.9148).