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4 Jun 2013
AUD/USD in lows around 0.9650
FXstreet.com (Barcelona) - The Aussie dollar is extending its intraday decline on Tuesday, falling almost one big-figure since today’s opening above 0.9750.
Against the backdrop of unchanged monetary policy by the RBA according its last gathering, Analyst Robert Henderson at NAB commented, “Our view that there is one more rate cut ahead is now looking close to a line ball call. The RBA still sees the currency as high relative to commodity prices but weak data surprises on the downside will be needed to induce another cut. Stronger data could mean no further cuts eventuate”.
At the moment AUD/USD is retreating 1.22% at 0.9651 and a breach of 0.9592 (low Jun.3) would expose 0.9528 (low May 29) ahead of 0.9488 (low Oct.5 2011). On the upside, the immediate hurdle lies at 0.9792 (high Jun.3) followed by 0.9809 (MA21d) and finally 0.9828 (high May 22).
Against the backdrop of unchanged monetary policy by the RBA according its last gathering, Analyst Robert Henderson at NAB commented, “Our view that there is one more rate cut ahead is now looking close to a line ball call. The RBA still sees the currency as high relative to commodity prices but weak data surprises on the downside will be needed to induce another cut. Stronger data could mean no further cuts eventuate”.
At the moment AUD/USD is retreating 1.22% at 0.9651 and a breach of 0.9592 (low Jun.3) would expose 0.9528 (low May 29) ahead of 0.9488 (low Oct.5 2011). On the upside, the immediate hurdle lies at 0.9792 (high Jun.3) followed by 0.9809 (MA21d) and finally 0.9828 (high May 22).