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5 Mar 2013
Forex: AUD/USD higher post-RBA on hold
Following RBA rates on hold at 3%, given “Global growth is forecast to be a little below average for a time, but the downside risks appear to have lessened over recent months,” the central bank said, AUD/USD is mostly unchanged around the weekly initial price at 1.0205, last at 1.0208, off fresh weekly highs at 1.0222.
Too soon to say, but AUD/USD is currently breaking to fresh highs last at 1.0225, above previous highs printed with better than expected Australian retail sales for the month of January, best since last June, while Current account deficit also showed a better result. Local share markets are in the green overall, with Shanghai Cposite above the +1%, while Australian ASX is up +1.39%.
Immediate resistance to the upside for AUD/USD shows at Mar 01 highs at 1.0240, and Feb 18 lows at 1.0275, and Feb 28 highs at 1.0290. To the downside, closest support lies at Feb 27/Mar 01 lows 1.0180, followed by Sept 05 lows at 1.0162, and Oct 08 lows at 1.0145.
Too soon to say, but AUD/USD is currently breaking to fresh highs last at 1.0225, above previous highs printed with better than expected Australian retail sales for the month of January, best since last June, while Current account deficit also showed a better result. Local share markets are in the green overall, with Shanghai Cposite above the +1%, while Australian ASX is up +1.39%.
Immediate resistance to the upside for AUD/USD shows at Mar 01 highs at 1.0240, and Feb 18 lows at 1.0275, and Feb 28 highs at 1.0290. To the downside, closest support lies at Feb 27/Mar 01 lows 1.0180, followed by Sept 05 lows at 1.0162, and Oct 08 lows at 1.0145.