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4 Mar 2014
AUD/USD steady near 0.8940
FXStreet (Edinburgh) - The AUD is quite resilient today in light of the recent Crimea-induced volatility affecting the global markets, with the AUD/USD hovering over 0.8935/40.
AUD/USD muted after RBA
The RBA left its monetary policy unchanged in today’s meeting although it referred to the ‘high’ level of AUD once again. Further releases in Oz showed Building Permits expanded 34.6% YoY in January and the Current Account deficit narrowed to A$10.1 billion during Q4. “We still see downside potential in Aussie as the Chinese slowdown is likely to continue into Q2 and stress the need for a rebalancing of the Australian economy”, suggested Lars Christensen, Analyst at Danske Bank.
AUD/USD key levels
At the moment the pair is up 0.17% at 0.8942 with the next resistance at 0.8990 (high Feb.28) ahead of 0.9000 (psychological level) and then 0.9026 (high Feb.26). On the flip side, a breakdown of 0.8891 (low Mar.3) would aim for 0.8873 (low Feb.5) and finally 0.8730 (low Feb.4).
AUD/USD muted after RBA
The RBA left its monetary policy unchanged in today’s meeting although it referred to the ‘high’ level of AUD once again. Further releases in Oz showed Building Permits expanded 34.6% YoY in January and the Current Account deficit narrowed to A$10.1 billion during Q4. “We still see downside potential in Aussie as the Chinese slowdown is likely to continue into Q2 and stress the need for a rebalancing of the Australian economy”, suggested Lars Christensen, Analyst at Danske Bank.
AUD/USD key levels
At the moment the pair is up 0.17% at 0.8942 with the next resistance at 0.8990 (high Feb.28) ahead of 0.9000 (psychological level) and then 0.9026 (high Feb.26). On the flip side, a breakdown of 0.8891 (low Mar.3) would aim for 0.8873 (low Feb.5) and finally 0.8730 (low Feb.4).