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16 Apr 2013
Forex: AUD/USD on the rise again, eyes on 1.0400
FXstreet.com (Barcelona) - The Australian dollar is hovering over 1.0370/75 on Tuesday, recovering ground from Monday’s sharp sell-off that dragged the cross to sub 1.0300 level at the end of the NA session.
Against the backdrop of the RBA minutes released today, Analyst David De Garis at NAB commented “NAB continues to expect that the RBA will cut rates again in this cycle and
that given the run of data to date and impending releases, the June Board
meeting for us remains the next most probable date”.
The cross is now gaining 0.56% at 1.0370 with the next support at 1.0332 (low Mar.18) followed by 1.0300 (low Mar.12).
On the upside, a break above 1.0397 (MA200d) would the target 1.0425 (hourly high Apr.15).
Against the backdrop of the RBA minutes released today, Analyst David De Garis at NAB commented “NAB continues to expect that the RBA will cut rates again in this cycle and
that given the run of data to date and impending releases, the June Board
meeting for us remains the next most probable date”.
The cross is now gaining 0.56% at 1.0370 with the next support at 1.0332 (low Mar.18) followed by 1.0300 (low Mar.12).
On the upside, a break above 1.0397 (MA200d) would the target 1.0425 (hourly high Apr.15).