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5 May 2015
AUD/USD: The quiet before the storm ahead of RBA
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7835 with a high of 0.7840 and a low of 0.7833.
AUD/USD is quiet before a possible storm ahead with the RBA decision fast approaching. Analysts are on the fence with this one, as to whether there will be a 25bp cut or not, however there is the majority of the market that see a 25bp cut down to 2%.
The pair has been in a sideways formation on and around the 50% fibo at 0.78 post hitting the three month high last week at 0.8076 and this may well have opened up a run way to the upside should the RBA offer a less dovish than expected statement while the RBA may be too cautious around the already overheated housing market.
AUD/USD is quiet before a possible storm ahead with the RBA decision fast approaching. Analysts are on the fence with this one, as to whether there will be a 25bp cut or not, however there is the majority of the market that see a 25bp cut down to 2%.
The pair has been in a sideways formation on and around the 50% fibo at 0.78 post hitting the three month high last week at 0.8076 and this may well have opened up a run way to the upside should the RBA offer a less dovish than expected statement while the RBA may be too cautious around the already overheated housing market.