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The AUD appraoches resistance against the US dollar.

Written by Sam Coxhead on September 28th, 2012.      0 comments

3:15 PM (NZD) It has been a really mixed week for this pair, as current levels are very close to levels at which it opened the week.  The AUD has been a relative underperformer during periods of apparent risk appetite and this will be linked to the RBA monetary policy decision next week. The probability of a lower Australian cash rate will likely weigh on the AUD progress ahead of the announcement on Tuesday. The re-emerging noise from Europe as the soft economic indicators continue to come will also affect outright demand for the AUD in the short term at least.  Rumours of significant Chinese stimulation continue to swirl and any confirmation of truth to these would likely lead to AUD demand. Next week is a busy one for data on this pair. Of primary focus will be the RBA meeting on Tuesday, and the US employment numbers on Friday. Further appreciation from the AUD up through resistance at 1.0500, will be hard fought from the current levels.
The current interbank midrate is:                                                            AUDUSD  1.0470                                                                                         
The interbank range so far this week to date has been:                 AUDUSD 1.0325 – 1.0475
Topics: AUD USD