Aussie firms ahead of RBA’s Monetary Policy Meeting Minutes

Aussie firms ahead of RBA’s monetary policy meeting minutes

Aussie rises noticeably against major peers as United States and China delayed their trade deal scheduled on Aug 15. In addition, U.S. November elections will be the top priority news for the investors.

  • AUD/NZD touches 1.1027 mark, highest level since Aug 2018.
  • AUD/USD touches $0.7212 mark, hits fresh weekly high.
  • AUD/JPY hovers around key resistance at 76.55 mark.

Traders have put their focus on monetary policy meeting minutes by Australia (due tomorrow) and United States (due Wednesday).

Let’s see how AUD has reacted against U.S. dollar during previous data release:

Technical View:
AUD/USD: The Aussie strengthens considerably against U.S. dollar. The pair made intraday high at $0.7212 and low at $0.7161 marks. On the top side key resistances are seen at $0.7247, $0.7286 and $0.7344 mark respectively. On the other hand, a consistent close below $0.7142 will take the parity down towards key supports around $0.7082, $0.7040, $0.6969, $0.6922, $0.6861, $0.6833 and $0.6799 mark respectively.
Take a look and do trade wisely!
Good Luck