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26 Mar 2013
Forex: AUD/USD below 1.0470 ahead of RBA Stevens
FXstreet.com (Barcelona) - AUD/USD is currently at 1.0450, off fresh session lows at 1.0447, falling from session highs at 1.0470, ahead of RBA gov Stevens speech at 04:45 GMT. The pair has started to sell as soon as Shanghai an Hong-Kong opened, losing -1.73% and -0.66% respectively. Over all, local share markets are in the red, but Korean Kospi that gains +0.32%.
According to NAB strategists RBA'S Stevens speech wont be a market mover, with not much new to add to previous appearances. AUD/USD is slightly in the positive for the week so far, retracing from yesterday's fresh 2-month highs at 1.0480, with commercial traders already back to net short positions, once they squared to even down around the 1.0150-1.0200 levels.
Immediate support to the downside for AUD/USD lies at yesterday's NY session lows 1.0442, followed by Monday's weekly lows at 1.0432, and Friday's lows at 1.0420. To the upside, closest resistance shows at recent session highs 1.0470, followed by mentioned yesterday's fresh 2-month highs at 1.0480, and Dec 13 lows at 1.0503.
According to NAB strategists RBA'S Stevens speech wont be a market mover, with not much new to add to previous appearances. AUD/USD is slightly in the positive for the week so far, retracing from yesterday's fresh 2-month highs at 1.0480, with commercial traders already back to net short positions, once they squared to even down around the 1.0150-1.0200 levels.
Immediate support to the downside for AUD/USD lies at yesterday's NY session lows 1.0442, followed by Monday's weekly lows at 1.0432, and Friday's lows at 1.0420. To the upside, closest resistance shows at recent session highs 1.0470, followed by mentioned yesterday's fresh 2-month highs at 1.0480, and Dec 13 lows at 1.0503.