Request an obligation free quote now
When converting Australian dollars (AUD) to US dollars (USD), or USD to AUD, by exchanging via Direct FX, you will save a significant amount of money. Our wholesale currency exchange rates for money transfers are significantly more competitive than bank foreign exchange rates. Being Australasian based, we specialise in knowing what drives AUD and USD currency conversion rates.
AUD to USD Overview:The Australian dollar has become the barometer for global growth since the year 2000. Its appreciation against the US dollar is closely linked to commodities market conditions as the emerging markets in Asia develop. Central Bank diversification out of USD now means there is less ongoing support for the USD, as the world’s financial power slowly transfers from the United States.
|
Historical Ranges: |
1 year |
5 years |
10 years |
|
AUD/USD |
.9388 - 1.1080 |
.6009 - 1.1080 |
.5044 - 1.1080 |
Current Official Cash Rates:
Reserve Bank of Australia (RBA): 4.75% US Federal Reserve (FED): 0.0% - 0.25%
AUD USD Weekly Updates: Back to FX Updates
Monday 14th May 2012 4:42 PM (NZT)
The Australian dollar has seen renewed pressure from the US dollar throughout last week. The primary driver for the renewed pressure was the wider market risk aversion, driven by uncertainty in Europe. The moves have been aided by softer than expected Chinese economic data also. The strong headline Australian employment numbers did offer some support, but the AUD demand proved to be short lived. The parity level offers the initial support this week, consolidation through this level would open up investigations of lower levels again. The RBA monetary policy meeting minutes tomorrow offer initial focus ahead of the US inflation and retail sales numbers also on Tuesday. Manufacturing numbers in the US round out the week. It seems likely that the risk aversion continues in the short term, but further gains from the US dollar should prove harder fought than in previous moves.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0026 |
.9900 |
1.0100 |
.9992 - 1.0222 |
Monday 7th May 2012 :42 PM (NZT)
The Australian dollar was under almost constant pressure from the resurgent US dollar throughout the course of last week. The magnitude of the cash rate cut from the RBA added to the lower AUD demand. Until the political uncertainty in Europe settles down, expect the US dollar demand to remain in place. The lower oil price is also supportive of the USD, so further moves lower from oil will temper any AUD fight back in the short term. Demand for AUD should emerge on any moves down towards parity. Those looking to buy AUD with US dollar should be happy to at least move a tranche of their funds at current levels. Chinese trade balance and inflation numbers could also be of impact on the AUD, and will garner attention when released later in the week.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0140 |
1.0050 |
1.0250 |
1.0112 - 1.0420 |
Monday 30th April 2012 4:42 PM (NZT)
After seeing some initial pressure from the US dollar, and seeing lows after the inflation data released on Tuesday, the AUD saw strong demand for the remainder of the week. Somewhat inexplicable US dollar weakness on Friday accelerated the AUD rise to the highs. This week has opened a little softer and right on the resistance level of 1.0450. Such demand ahead of the likely cut in the cash rate to 4.00% from the RBA tomorrow is surprising. Chinese manufacturing numbers on Tuesday will also be closely watched. Attempts to move higher from current levels will likely be harder fought for the AUD from current levels.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0455 |
1.0250 |
1.0450 |
1.0245 - 1.0475 |
Monday 23rd April 2012 4:06 PM (NZT)
This pair had a relatively contained range throughout the course of last week. This week is a big week of data for this pair. The Australian influence comes in the form of the inflation numbers on Tuesday. In the US consumer confidence, new homes sales and durable goods sales numbers all come before the FED’s monetary policy decision and statement on Wednesday. The decision will likely be unchanged monetary policy, but the outlook and accompanying statement will be closely watched. Advanced GDP numbers on Friday round out the interesting week.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0347 |
1.0240 |
1.0440 |
1.0300 - 1.0420 |
Monday 16th April 2012 4:01 PM (NZT)
The volatile nature of this pairing was aptly displayed last week with sharp moves occurring almost on a daily basis. The AUD strength was provided by the stronger than expected Australian employment numbers. Aiding the move higher for the AUD were rumours of a 9.0% Chinese GDP number. The 8.1% disappointment has been coupled with increased European debt concerns, and these pressures ensure the AUD opens this week under considerable pressure. The Australian focus comes in the form of the RBA monetary policy meeting minutes on Tuesday. In the US, retail sales numbers late on Monday are followed by manufacturing numbers on Friday.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0320 |
1.0240 |
1.0440 |
1.0222 - 1.0454 |
Tuesday 10th April 2012 5:55 PM (NZT)
The AUD remained under pressure from the US dollar for the most part throughout last week. The RBA monetary policy meeting minutes point towards an easing in the cash rate in the near future, and most likely in May. This should undermine any significant appreciation of the AUD in the short term. Countering this was the weaker than expected US employment numbers on Friday. This points towards further range trading for this pair (and others) in the short term. Australian employment numbers on Thursday come ahead of US inflation and consumer sentiment numbers, but all three pieces of data will be very closely watched.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0306 |
1.0240 |
1.0440 |
1.0239 - 1.0465 |
Monday 2nd April 2012 5:11 PM (NZT)
The Australian dollar saw some solid pressure at times from the US dollar last week. This week’s RBA meeting came into play as the interest rate market increased the chances of a 25pt cut to the cash rate at tomorrow’s meeting. While they may not cut tomorrow, it’s highly likely that we will have a 4.00% cash rate, or lower, by the June meeting. The release of the better than expected official Chinese manufacturing data over the weekend has seen the AUD start the week stronger. However since the disappointing building numbers and initial profit taking, the AUD has given up a good portion of its gains. There is some significant data to be released in the US this week also, so we can expected some action. The employment numbers on Friday will be of primary importance. If the stock markets can hold onto gains seen in the first quarter, it will assist the AUD hold ground in the face of a lowering cash rate from the RBA.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0399 |
1.0300 |
1.0500 |
1.0301 - 1.0558 |
Monday 26th March 2012 4:50 PM (NZT)
The Australian dollar saw some strong pressure from the US dollar last week, before it bounced from its lows. Weaker than expected Chinese manufacturing data certainly helped ease the way lower for the AUD. The disconnect between the slowing east Asian economies, who are Australia’s primary trading partners, and that of the recovering US economy is becoming more clear. The USD lost its momentum as longer term US interest rates backed off their highs. There is an absence of Australian economic data this week, so expect the lead to be US driven. Home sales, consumer sentiment, durable goods orders and final GDP numbers will provide plenty of noise from which the market will take direction. If resistance at 1.0550 can hold, investigations lower should be made by the AUD at some stage.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0467 |
1.0350 |
1.0550 |
1.0332 - 1.0637 |
Monday 19th March 2012 4:15 PM (NZT)
The Australian dollar remains vulnerable to pressure from the US dollar. Last week the pair could not consolidate below the 1.0450 support and since then the AUD has appreciated along with a resurgent EURO. This week the Australian focus will be based around the RBA with the release of the latest monetary policy meeting minutes on Tuesday. In the US the beleaguered housing sector will be closely watched, with building permits, and new and existing home sales numbers due for release. Chinese manufacturing numbers on Thursday could also influence demand for the AUD. Again current levels represent good value buying of US dollars, especially if the chances of further full blown QE from the FED reduce again this week.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0595 |
1.0450 |
1.0650 |
1.0419 - 1.0614 |
Monday 12th March 2012 4:07 PM (NZT)
The Australian dollar has been under renewed pressure from the US dollar over the last week. The pair starts the week close to substantial support around the 1.0500 level. The initial pressure last week came after the Chinese authorities downgraded their growth expectation for 2012 to 7.5%. Then came the much weaker than expected Australian GDP numbers. Subsequently the interest rate market moved to increase the chances of a cut to the cash from the RBA in the coming months, and again this is AUD negative. Apart from home loan data in Australia tomorrow, the focus will entirely come from the US. Do not expect the FED to make any changes to monetary policy at their meeting on Tuesday. The bias for this pair remains to the downside as the interest rate differential look to contract.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0533 |
1.0500 |
1.0700 |
1.0506 - 1.0747 |
Monday 5th March 2012 3:35 PM (NZT)
The Australian dollar remains range bound against the US dollar. Again the resistance at 1.0830 proved too hard to consolidate above for the AUD. The paring back of expectations of further QE from the FED pushed the pair lower to finish the week. In the US the focus comes on Friday when the all important employment numbers are released. Before then we have a busy week in Australia. Tuesday will see the RBA likely leave the cash rate unchanged at 4.25%, but the accompanying statement will be closely monitored by the market. Wednesday sees the release of the GDP numbers, ahead of the employment numbers on Thursday. If interest rates in the US continue to rise, expect the USD to see further demand. Again the current range represents good value buying of USD with Australian dollars.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0715 |
1.0630 |
1.0830 |
1.0646 - 1.0856 |
Monday 27th February 2012 4:15 PM (NZT)
The Australian dollar remains at elevated levels against the US dollar, but the price action points towards less enthusiastic demand. Whilst the pair broke the downside support at 1.0630 for a short period, it did not consolidate below that level. Increasing longer term US interest rates should keep a little pressure on the AUD in the coming week. The focus will come predominantly from the US, with GDP numbers due Wednesday, ahead of important manufacturing numbers on Friday. FED chairman Bernanke’s semi-annual testimony will also be closely watched. In Australia there are retail sales numbers on Wednesday, ahead of construction and private capital expenditure numbers on Thursday.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0676 |
1.0630 |
1.0830 |
1.0594 - 1.0816 |
Monday 20th February 2012 5:15 PM (NZT)
This pairing saw its recently familiar range continue last week. Strong employment numbers have lowered the expectations for a cut to the cash rate from the RBA, at its next meeting. Balancing the change in expectations of the RBA, is the move by the markets to discount the chances of further QE from the FED in the coming months. These forces saw this newly established range adhered to last week. There is relatively little economic data due for release in the US this week, so expect the RBA monetary policy meeting minutes to be closely followed on Tuesday. Two speeches by RBA head Glen Stevens on Tuesday and Friday, will also be followed for any inklings on monetary policy over the coming months. The pair is close to topside resistance, and a positive reaction to news from Europe with regards to the Greek bailout funds, could see that level tested. However uncertainty in Europe remains the dominant theme.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0782 |
1.0630 |
1.0830 |
1.0625 - 1.0816 |
Monday 13th February 2012 5:15 PM (NZT)
The Australian dollar gave up ground to the US dollar last week, as the US dollar saw some across the board support. This US dollar outperformance came in the face of the RBA leaving the cash rate unchanged at 4.25%. Whilst the Greek Parliament passing the austerity vote is only the first step of three towards a Greek bond swap, the risk appetite has increased since the news hit the wires, and the AUD has moved higher with it. After today’s slightly better than expected Australian home loans data, the next Australian focus will be Thursdays employment report. In the US there are numerous releases this week, but of note will be the release of the FED monetary policy meeting minutes on Wednesday. Expect news from Europe to be a dominating factors throughout the week also.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0741 |
1.0600 |
1.0800 |
1.0635 - 1.0845 |
Monday 6th February 2012 5:15 PM (NZT)
The Australian dollar again saw gains against the US dollar last week, although the appreciation was more hard fought. What makes these gains impressive is the fact that they were made as we approach the RBA monetary policy meeting on Tuesday. There is still odds on a 25pts cut to the cash rate to 4.0% at the meeting. The RBA quarterly Monetary Policy Statement on Friday will also be closely watched. In the US there are two speeches by FED chairmen Ben Bernanke which will be closely watched, as will the preliminary consumer sentiment numbers on Friday. Current levels represent good value buying of US dollars with AUD at current levels. Once again further appreciation from the AUD should prove to be harder fought.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0721 |
1.0600 |
1.0800 |
1.0521 - 1.0794 |
Tuesday 31st January 2012 5:15 PM (NZT)
The Australian dollar has seen some strong demand to start 2012. This demand tempered somewhat into the end of last week, especially after the release of some monetary policy in China. A strong boost mid week came after the FED pledged to keep the cash rate lower for longer, and again pushed out their unchanged track, this time until 2014. The prospect of further QE from the FED will also affect prospects for the US dollar in the short term. The primary focus for the remainder of the week will be Chinese manufacturing numbers tomorrow and US employment numbers on Friday. Tuesday next week sees the RBA announcement monetary policy and the cash rate is expected to be lowered from 4.25% to 4.0%. Chinese inflation numbers Thursday and the quarterly Monetary Policy Statement on Friday will also be closely watched.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0634 |
1.0500 |
1.0700 |
1.0424 - 1.0674 |
Monday 19th December 2011 5:40 PM (NZT)
The AUD came under waves of pressure from the US dollar for most of last week. It did manage to take back a portion of its losses into the end of the week. The AUD has started this week again a little softer, as wider market risk aversion again increases. The prospect of credit downgrades in Europe, and a falling property market in China is providing the lead. This week the focus in Australia is on the RBA monetary policy meeting minutes, which are to be released on Tuesday. In the US there are various housing numbers throughout the week which will be closely watched. Also there are final US GDP numbers on Thursday, followed by the important durable goods orders numbers on Friday. Expect a good portion of the lead for this pairing to again come from sentiment driven by the debt markets in Europe.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
.9915 |
.9850 |
1.0050 |
.9857 - 1.0215 |
Monday 12th December 2011 5:40 PM (NZT)
This pair was relatively stable last week until Chinese inflation data was released and was lower than expected. This sent all growth assets lower and the AUD was no exception. Ironically the cash rate cut from the RBA, better growth numbers, and higher unemployment rate, were of limited impact. The AUD has recovered a portion of the lost ground, as the market digests the intergovernmental agreement between Euro-zone states. This week the FED monetary policy statement on Tuesday will be of primary focus, along with manufacturing and inflation numbers on Thursday and Friday in the US.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0181 |
1.0100 |
1.0300 |
1.0044 - 1.0380 |
Monday 5th December 2011 5:25 PM (NZT)
The Australian dollar saw sharp appreciation against the US dollar last week. The initial risk appetite was driven by an ill founded rumour that the IMF was to provide Italy with funding. By the time the denial came from the IMF, the move was under way and there was evidence of stop-loss buying of AUD. The coordinated central bank action on US dollars sent the AUD to the high for the week, and since then the AUD has consolidated around current levels. The focus is very much in Australia for this pair this week. The RBA kicks it off on Tuesday with their cash rate announcement. It is likely that they will deliver a 25pt cut to have a cash rate at 4.25%. Third quarter GDP follows on Wednesday, and then employment on Thursday. Headlines from Europe will also be of influence, affecting the wider market appetite for risk.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0235 |
1.0020 |
1.0320 |
.9753 - 1.0330 |
Monday 28th November 2011 5:25 PM (NZT)
The Australian dollar was outperformed by the resurgent US dollar again last week. However the weekends rumour of an IMF funding package for Italy has seen the AUD open stronger this week, almost reversing last week’s losses. In Australia the week’s primary focus will be on the retail sales number on Thursday. In the US the manufacturing data on Thursday, and employment report on Friday will be closely watched. Obviously the intense focus on Europe will continue, and this will continue to be a major driver of price action for the pair. Because many investors have “sold AUD” positions, a short term spike higher from the AUD remains a real possibility.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
.9933 |
.9700 |
1.0000 |
.9659 - 1.0013 |
Monday 21st November 2011 6:15 PM (NZT)
The Australian dollar was under sustained pressure from the US dollar last week. The risk aversion was almost unabated and this trend does not look like changing in the short term. However, given the recent moves, progress from current levels should prove harder to make for the US dollar. The uncertainty surrounding the congressional negotiations to reduce costs in the US will also add the mix this week. There is little in the way of top tier data due for release in Australia, so again, the majority of the lead for this pair will come from the wider market appetite for risk.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
.9975 |
.9900 |
1.0100 |
.9940 - 1.0350 |
Monday 14th November 2011 5:15 PM (NZT)
The Australian dollar saw some steady pressure from the US dollar last week, as the wider market risk aversion increased. The more positive news from Italy over the weekend has seen a bounce from the AUD, to recover a portion of the lost ground. With retail sales, inflation and manufacturing data due for release in the US this week, there is potential for movement throughout. In Australia the RBA monetary policy meeting minutes release on Tuesday will be closely watched. RBA Governor Stevens also speaks on Thursday, which will draw attention. Topside resistance will remain in place initially just above the 1.0400 level. The European debt situation remains an ongoing concern and any escalation of uncertainties, will see further pressure on the AUD from the US dollar.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0304 |
1.0100 |
1.0400 |
1.0048 - 1.0426 |
Monday 7th November 2011 5:15 PM (NZT)
This pair was extremely volatile last week. The AUD opened at the highs and saw waves of selling pressure hit the market all the way through to Thursday. After the news that the proposed Greek referendum had been cancelled the AUD bounced back. Tuesday’s RBA cutting of the cash rate to 4.25% may have contributed to the softer price action, but this was pretty well priced already by the interest rate market and so was not too much of a surprise. Along with the European debt crisis, this week’s focus will come in Australia with the employment numbers on Thursday. With the Greek debt issues seemingly organized for the time being, this pair maybe a little more stable this week. Global economic fundamentals point to a lower Australian dollar, but with the potential for the FED to embark on yet another round of quantitative easing, nothing can be assured. The splitting up and staggering of larger transfer in the current environment should be considered.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0368 |
1.0240 |
1.0440 |
1.0198 - 1.0716 |
Monday 31st October 2011 4.50 PM (NZT)
This pair was more volatile than usual last week. After some initial strength the AUD faded as the EU summit approached and the market became for nervous. The lower than expected Australian inflation number added a little softness to the AUD. The subsequent “success” on the summit saw some massive “sold AUD” position covering, which meant a lot of AUD had to be bought. This pushed the AUD higher across the board, with the AUD peaking late Thursday, before market momentum waned. Today’s BOJ intervention has seen the AUD knocked 100pts lower, as the BOJ bought the US dollar. Initial support should come in at the 1.0500 level if the US dollar momentum can be sustained. The Australian focus for the week will be the RBA monetary policy decision on Tuesday ahead of the quarterly monetary policy statement on Friday. In the US, Wednesday sees the turn of the FED to make its monetary policy decision ahead of the all important employment numbers on Friday. If the wider market sentiment is negative, the AUD will underperform.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0530 |
1.0500 |
1.0700 |
1.0310 - 1.0753 |
Monday 17th October 2011 4.50 PM (NZT)
The Austrian dollar saw further sharp appreciation over the US dollar last week. The return to risk appetite coupled with the better than expected Australian and US economic numbers ensured an easy road higher for the AUD. Further positive news will be required to see further appreciation from current levels, and any gains for the AUD should be harder to make from current levels. Along with the usual slurry of US economic data this week, the RBA monetary policy meeting minutes will be closely watched on Tuesday.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0289 |
1.0120 |
1.0420 |
.9725 - 1.0347 |
Monday 10th October 2011 5.00 PM (NZT)
The Australian dollar started the week under intense pressure from the US dollar, as market risk aversion escalated. The turning point was provided by news that European authorities had committed to a bank aid package for ailing European banks. This saw the sentiment turn quickly and the AUD saw strong demand, as investors quickly exited “sold” AUD positions. The RBA acknowledgement that cuts to the cash rate are likely in the coming months, only provided a brief pull back in the AUD before the buying again resumed. The news that Spain and Italy had been given credit downgrades by ratings Agency Fitch saw the AUD pushed lower from the highs. This week the main Australian focus will come in the form of the employment numbers on Thursday. In the US Wednesdays FED monetary policy meeting minutes will be watched, ahead of retail sales and consumer sentiment numbers on Friday.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
.9817 |
.9600 |
.9900 |
.9385 - .9879 |
Monday 3rd October 2011 5.05 PM (NZT)
This pair remained volatile last week. This week starts at levels close to where the week started last week. There were periods last week when the AUD managed to make up some ground on the US dollar, but then the risk aversion returned. The focus in Australia this week comes on Tuesday when we have building and trade numbers ahead of the RBA monetary policy announcement. The RBA are expected to leave the cash rate unchanged at 4.75%, but their statement will be closely watched for any change in bias towards an easing in the cash rate in the coming months. In the US there is the usual host of economic numbers, but of most importance are the employment numbers on Friday. A consolidated break of support at .9550, should open up the way for another leg lower from the AUD.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
.9605 |
.9550 |
.9850 |
.9615 - 99.86 |
Monday 26th September 2011 6.42 PM (NZT)
The Australian dollar saw increased pressure from the US dollar following the US FED’s announcement on monetary policy. Their downbeat assessment of the economy, chimed in with the 3
rd straight month of manufacturing contraction in China, and it is easy to see how the sellers emerged of the AUD, being the global barometer for growth. There is little economic data of note in Australia this week. In the US we have consumer sentiment, durable goods sales and the final GDP reading which are of note. US FED chairman Bernanke also speaks on Thursday morning Australian time and this will be followed closely for any further communication on monetary policy.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
.9691 |
.9650 |
.9950 |
.9664 - 1.0357 |
Monday 19th September 2011 5.15 PM (NZT)
This pair saw mostly sideways trade for much of last week. The US dollar rebound does look entrenched for the time being and this lends this pair to a downside bias. The focus for the week starts in Australia with the RBA monetary policy meeting minutes that due for release on Tuesday. From there the focus will be US based with the main event being the monetary policy announcement by the FED on Wednesday. There appears to be little chance of further quantitative easing programs at this stage, so expect the US dollar to remain supported on periods of weakness, and therefore capping any real AUD gains. A sustained break of the support at the now close 1.0200 level will open the way for another move to the downside for the AUD.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0234 |
1.0200 |
1.0550 |
1.0173 - 1.0474 |
Monday 12th September 2011 4:55 PM (NZT)
The AUD outperformed the US dollar for most of last week amongst some stronger than expected growth numbers for the 2
nd quarter and the wait and see approach on monetary policy from the RBA. The higher than expected unemployment rate in Australia started the weakness and the escalation of debt fears in Europe quickly saw the US dollar on hot demand in Friday’s offshore session. There is little in the way of Australian economic data this week, so expect the lead to come from the US and the situation in Europe. In the US, we have retail sales numbers on Wednesday, inflation data on Thursday, and manufacturing and consumer sentiment numbers Friday. The solid Chinese trade numbers late last week should support the AUD if the risk aversion abates at any stage this week.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0360 |
1.0200 |
1.0550 |
1.0359 - 1.0665 |
Monday 5th September 2011 6:05 PM (NZT)
The Australian dollar outperformed the US dollar for most of last week, seeing grinding appreciation up towards the week’s highs before the disappointing US employment numbers on Friday. Since that release the US dollar has seen solid demand. Benefitting the US dollar currently is the notion that the FED will not undertake further QE at this juncture(USD positive). Instead maybe looking to extend the maturity of their Treasury holdings, and therefore lowering the cost of long term debt for the consumer and business alike. Much of this week’s focus will be AUD based, with Tuesday’s RBA meeting starting off the focus. No change to the 4.75% cash rate is expected, but the accompanying statement could well hold the key to policy timing throughout the remainder of the year. Wednesday sees second quarter Australian GDP data released and Thursday the employment numbers. Given the current global outlook, expect AUD gains to be hard fought. Any US dollar strength will draw out AUD demand at technical support levels.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0586 |
1.0450 |
1.0750 |
1.0557 - 1.0765 |
Monday 29th August 2011 6:35 PM (NZT)
The Australian dollar outperformed the US dollar last week as the better than expected Chinese and US data encouraged the appetite for risk in general. Interestingly, the divergence between RBA rhetoric and the interest rate market pricing has started to close a little with the market starting to price in less easing from the RBA, before the end of the year. The interest rate market has been stubborn in its resilience of late, but its late move will assist the AUD in appreciation from current levels, should the general market optimism continue. Amongst a slurry of economic data releases this week, the focus in the US will be on the minutes from the last FED monetary policy meeting are released Tuesday, and the all important unemployment numbers are on Friday. In Australia, building numbers Tuesday, and private capital expenditure and retail sales numbers on Thursday will provide the lead. Progress from current levels should be harder to make for the AUD, with initial resistance at 1.0700, before the lofty level of 1.0800. On the downside, a resurgence from the US dollar may see a little more support for the AUD than in the previous sell off, thanks to the interest rate market in the short term.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
AUD/USD |
1.0608 |
1.0300 |
1.0600 |
1.0358 - 1.0633 |
