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17 Jun 2013
AUD/USD in highs around 0.9640
FXstreet.com (Edinburgh) - The AUD/USD is advancing firmly at the beginning of the week, with the AUD recovering from recent losses and pushing the pair to fresh highs in the vicinity of 0.9640.
RBA, FOMC to hinge on AUD/USD
Market participants will focus on the RBA minutes due tomorrow and the FOMC due later in the week as the most relevant events, as the Australian calendar seems pretty light for the present week. “We revised our AUD forecasts lower on June 10th, now seeing the AUD/USD rate at 0.95 by end June, 0.93 at end 2013, 0.90 by mid-2014 and 0.87 by end 2014”, commented the FX Research team at NAB.
AUD/USD levels to watch
As of writing, the pair is up 0.68% at 0.9628 with the next resistance at 0.9700 (prev. uptrend) ahead of 0.9712 (low May 17) and then 0.9792 (high Jun.3). On the flip side, a breakdown of 0.9528 (low May) would expose 0.93.88 (low 2011) and finally 0.9381 (high Apr.2010).
RBA, FOMC to hinge on AUD/USD
Market participants will focus on the RBA minutes due tomorrow and the FOMC due later in the week as the most relevant events, as the Australian calendar seems pretty light for the present week. “We revised our AUD forecasts lower on June 10th, now seeing the AUD/USD rate at 0.95 by end June, 0.93 at end 2013, 0.90 by mid-2014 and 0.87 by end 2014”, commented the FX Research team at NAB.
AUD/USD levels to watch
As of writing, the pair is up 0.68% at 0.9628 with the next resistance at 0.9700 (prev. uptrend) ahead of 0.9712 (low May 17) and then 0.9792 (high Jun.3). On the flip side, a breakdown of 0.9528 (low May) would expose 0.93.88 (low 2011) and finally 0.9381 (high Apr.2010).