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19 May 2014
AUD/USD pressing lower ahead of the RBA minutes
FXStreet (Guatemala) - AUD/USD is trading at 0.9335, down -0.31% on the day, having posted a daily high at 0.9377 and low at 0.9332.
AUD/USD is testing the downside through 0.9340 and while we wait for the RBA’s meetings minutes, RBS strategists explained that the RBA released the Statement on Monetary Policy (SoMP) following the May meeting, meaning that many of the conclusions on the outlook in the minutes are likely known. “In their April minutes, the RBA mentioned the value of the AUD sparingly, noting only that "the Australian dollar had appreciated, partly in response to domestic economic data, and it was now close to the level in November 2013, although on a trade-weighted basis the exchange rate was still about 12 per cent below its peak a year earlier”.
AUD/USD Levels
Current price is 0.9335, with resistance ahead at 0.9340 (Daily Classic S1), 0.9356 (Hourly 20 EMA), 0.9357 (Daily Classic PP), 0.9357 (Weekly Low) and 0.9363 (Hourly 200 SMA). Next support to the downside can be found at 0.9334 (Yesterday's Low), 0.9332 (Daily Low), 0.9330 (Daily 20 SMA), 0.9322 (Weekly Classic S1) and 0.9317 (Daily Classic S2).
Looking at price patterns, we can see a Doji 4-hour candlestick formation.
AUD/USD is testing the downside through 0.9340 and while we wait for the RBA’s meetings minutes, RBS strategists explained that the RBA released the Statement on Monetary Policy (SoMP) following the May meeting, meaning that many of the conclusions on the outlook in the minutes are likely known. “In their April minutes, the RBA mentioned the value of the AUD sparingly, noting only that "the Australian dollar had appreciated, partly in response to domestic economic data, and it was now close to the level in November 2013, although on a trade-weighted basis the exchange rate was still about 12 per cent below its peak a year earlier”.
AUD/USD Levels
Current price is 0.9335, with resistance ahead at 0.9340 (Daily Classic S1), 0.9356 (Hourly 20 EMA), 0.9357 (Daily Classic PP), 0.9357 (Weekly Low) and 0.9363 (Hourly 200 SMA). Next support to the downside can be found at 0.9334 (Yesterday's Low), 0.9332 (Daily Low), 0.9330 (Daily 20 SMA), 0.9322 (Weekly Classic S1) and 0.9317 (Daily Classic S2).
Looking at price patterns, we can see a Doji 4-hour candlestick formation.