3 Jul 2013
AUD/USD sideways trading
FXstreet.com (New York) - The AUD/USD technical pair has been relatively muted thus far during Asian trading, unable to break out of a tight consolidation.
In the United States, Total Vehicle Sales (June) were reported at 15.89M, beating expectations of 15.40M. Later today at 23:30 GMT, Australia will release the AiG Performance of Services Index (June).
AUD/USD unable to move off opening levels
In these moments, the AUD/USD is incurring a tepid advance of +0.02%, settling at 0.9150. Briefing the technicals, Mataf.net analysts identify the next short-term measures of resistance at 0.9281, then 0.9325, and finally 0.9397. Meanwhile, support lies lower at 0.9093, ahead of 0.9049.
AUD/USD RBA still deems pair high
According Global FX Strategist Sean Callow at Westpac, “the RBA showed earlier today that it could still hurt the AUD with jawboning. Despite holding the cash rate at 2.75%, the RBA statement was a little gloomy and included specific references to the AUD decline. While acknowledging the 10% fall in AUD since early April, the RBA still deemed the currency high and suggested further depreciation could occur, which would help Australia's economy rebalance.”
In the United States, Total Vehicle Sales (June) were reported at 15.89M, beating expectations of 15.40M. Later today at 23:30 GMT, Australia will release the AiG Performance of Services Index (June).
AUD/USD unable to move off opening levels
In these moments, the AUD/USD is incurring a tepid advance of +0.02%, settling at 0.9150. Briefing the technicals, Mataf.net analysts identify the next short-term measures of resistance at 0.9281, then 0.9325, and finally 0.9397. Meanwhile, support lies lower at 0.9093, ahead of 0.9049.
AUD/USD RBA still deems pair high
According Global FX Strategist Sean Callow at Westpac, “the RBA showed earlier today that it could still hurt the AUD with jawboning. Despite holding the cash rate at 2.75%, the RBA statement was a little gloomy and included specific references to the AUD decline. While acknowledging the 10% fall in AUD since early April, the RBA still deemed the currency high and suggested further depreciation could occur, which would help Australia's economy rebalance.”