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26 Mar 2013
Forex: AUD/USD upside capped at 1.0480
FXstreet.com (Barcelona) - The Aussie dollar is extending its momentum on Tuesday, orbiting around 1.0470 after another failed attempt to break above 1.0480, which acted as a tough barrier for AUD bulls on Monday as well.
“Markets are pricing -18bp from the RBA cash rate by Dec, having toyed with levels around -16bp Monday as risk appetite peaked”, signals Sean Callow, Strategist at Westpac.
At the moment, the pair is up 0.16% at 1.0473
Next resistance levels line up at 1.0555 (high Jan.24) ahead of 1.0560 (hourly high/lows Jan.23) and finally 1.0578 (high Jan.22).
On the downside, a breach of 1.0408 (MA100d) would bring 1.0389 (MA10d) and then 1.0363 (low Mar.21).
“Markets are pricing -18bp from the RBA cash rate by Dec, having toyed with levels around -16bp Monday as risk appetite peaked”, signals Sean Callow, Strategist at Westpac.
At the moment, the pair is up 0.16% at 1.0473
Next resistance levels line up at 1.0555 (high Jan.24) ahead of 1.0560 (hourly high/lows Jan.23) and finally 1.0578 (high Jan.22).
On the downside, a breach of 1.0408 (MA100d) would bring 1.0389 (MA10d) and then 1.0363 (low Mar.21).