AUD/USD wavers after RBA Stevens comments

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 24, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Mumbai) - The AUD/USD suffered minor losses in a knee-jerk reaction to Stevens dovish comments, only to rise back to its hourly 50-MA at 0.7204 levels.

    Supported at 0.7189

    The pair fell to 0.7189 after RBA’s Stevens said “inflation isn't a barrier to easing if necessary” and added that interest rates across the globe are likely to stay low for much of the decade. However, the turned higher from 0.7189 to 0.7210 before cooling to 0.72-0.7204 levels.

    The second estimate of the US Q2 GDP due later today could also influence the AUD/USD Pair.

    AUD/USD Technical Levels

    Above 0.7204 (hourly 50-MA + 100-DMA), the pair could target 0.7250 (Nov 20 high). On the other hand, failure to sustain above 0.7204 would open doors for a re-test of 0.7149 (50-DMA).
    For more information, read our latest forex news.

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