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16 Mar 2015
AUD/USD: Awaits RBA minutes; trades below key resistance
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7640 with a high of 0.7682 and a low of 0.7612.
AUD/USD is lined up on the bid that came for the better part of the opening markets as the dollar gives back a little on what might profit taking ahead of this week's showdown in the FOMC. However, first up we have the RBA's minutes from the interest rate decision where they left rates unchanged. Markets will be looking for whether the RBA mentions the possibility of a rate cut at some later stage this year.
Technically, we are awaiting to see if resistance at the 0.78 handle holds which opens up the downtrend at 0.7812. This level is keeping pressures on the pair to the downside and while below here, the base of the 2 year down channel at 0.7528 vs the greenback is in sight.
AUD/USD is lined up on the bid that came for the better part of the opening markets as the dollar gives back a little on what might profit taking ahead of this week's showdown in the FOMC. However, first up we have the RBA's minutes from the interest rate decision where they left rates unchanged. Markets will be looking for whether the RBA mentions the possibility of a rate cut at some later stage this year.
Technically, we are awaiting to see if resistance at the 0.78 handle holds which opens up the downtrend at 0.7812. This level is keeping pressures on the pair to the downside and while below here, the base of the 2 year down channel at 0.7528 vs the greenback is in sight.