The Australian dollar entered a consolidation phase over the last hours
following a positive response to Chinese data, as investors await the
RBA policy decision due next Asian session.
AUD/USD
filed a downward opening gap and rose to a daily high of 0.7153 before finding
resistance and settling in a tight range. At time of writing, the pair is
trading at 0.7134, virtually unchanged on the day.
The Reserve Bank of
Australia will announce its monetary policy decision at 03:30 GMT on Tuesday,
with most analysts anticipating rates will remain on hold at
2.0%.
AUD/USD levels to watch
In terms of
technical levels, next supports for AUD/USD are seen at 0.7065 (Oct 6 & 30
low), 0.7042 (Oct 5 low) and then the 0.7000 area (psychological level/Oct 1
& 2 lows) . On the other hand, resistances could be faced at 0.7147(Oct 30
high), 0.7206 (Oct 28 high) and 0.7295 (Oct 23 high).
AUD/USD 2015-11-02T14:30:00
0.7138/0.71387 (-0.022413986327%)
H0.714 L0.71343
Trend: Bearish
OS/OB: Neutral
