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22 Feb 2013
Forex: AUD/USD shoots higher on RBA gov comments
The Aussie has just rallied to recent session highs at 1.0309 on not very bearish RBA governor Stevens comments, off fresh 4-month lows printed by late NY trade at 1.0220, to sit at this moment around 1.0291, still slightly negative for the week. “AUD extends gains as RBA Stevens says board was prudent to sit still,” said Kathy Lien in her Twitter account.
No major local news will be out for the rest of the Asian session, with equity markets around the globe in the red, SP500 closing in NY down by -0.63%, US 10 year bond yields falling to 1.956% lows, Oil dipping -1.95% for second consecutive day, and Iron ore off fresh 2013 highs, around $156 last. The median estimate from a Reuters poll to analysts point to 1.0400 for 1-month ahead.
Immediate resistance to the upside for AUD/USD shows at recent session highs 1.0310, followed by Feb 14 lows at 1.0325, and Tuesday/Wednesday's weekly highs at 1.0368. To the downside, closest support lies at Feb 18 lows 1.0275, followed by NY session highs at 1.0264, and recent fresh 4-month lows at 1.0220.
No major local news will be out for the rest of the Asian session, with equity markets around the globe in the red, SP500 closing in NY down by -0.63%, US 10 year bond yields falling to 1.956% lows, Oil dipping -1.95% for second consecutive day, and Iron ore off fresh 2013 highs, around $156 last. The median estimate from a Reuters poll to analysts point to 1.0400 for 1-month ahead.
Immediate resistance to the upside for AUD/USD shows at recent session highs 1.0310, followed by Feb 14 lows at 1.0325, and Tuesday/Wednesday's weekly highs at 1.0368. To the downside, closest support lies at Feb 18 lows 1.0275, followed by NY session highs at 1.0264, and recent fresh 4-month lows at 1.0220.