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11 Feb 2014
AUD/USD in 4-week highs
FXStreet (Edinburgh) - The Aussie dollar keeps pushing higher on Tuesday, taking the AUD/USD to 4-week highs near 0.9050.
AUD/USD up on weaker greenback
The pair bottomed out just below the 0.8700 handle in mid-January, advancing since then on the back of some sort of neutral bias from the RBA (at least not dovish) and better prospects of growth and inflation in Oz. “The expectation of steady policy should help lend some support to AUD/USD going forward… On the back of recent developments we have revised up our 1 to 3 mth AUD/USD modestly and now expect a 0.89 to 0.91 range to hold most activity in this period”, argued Jane Foley, Senior Currency Strategist at Rabobank.
AUD/USD significant levels
As of writing the pair is up 1.02% at 0.9041 with the next resistance at 0.9058 (high Jan.14) and then 0.9087 (high Jan.13). On the flip side, a breakdown of 0.8907 (low Feb.10) would open the door to 0.8873 (low Feb.5) and finally 0.8730 (low Feb.4).
AUD/USD up on weaker greenback
The pair bottomed out just below the 0.8700 handle in mid-January, advancing since then on the back of some sort of neutral bias from the RBA (at least not dovish) and better prospects of growth and inflation in Oz. “The expectation of steady policy should help lend some support to AUD/USD going forward… On the back of recent developments we have revised up our 1 to 3 mth AUD/USD modestly and now expect a 0.89 to 0.91 range to hold most activity in this period”, argued Jane Foley, Senior Currency Strategist at Rabobank.
AUD/USD significant levels
As of writing the pair is up 1.02% at 0.9041 with the next resistance at 0.9058 (high Jan.14) and then 0.9087 (high Jan.13). On the flip side, a breakdown of 0.8907 (low Feb.10) would open the door to 0.8873 (low Feb.5) and finally 0.8730 (low Feb.4).