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Trading news
21 Mar 2013
Forex: AUD/USD keeps the red around 1.0365/70
FXstreet.com (Barcelona) - The Aussie dollar is losing ground on Thursday, prolonging the softer tone seen overnight around 1.0370/75
In light of the results of the RBA Foreign Exchange Transactions, Analyst Adrian Foster at Rabobank commented, “The RBA sold (net) A$328M of AU$ to the market in February. At the same time it bought A$345M of AU$ from the government as the government paid its bills. Thus, there’s no suggestion of FX intervention to weaken the AU$ in these data”.
At the moment, the cross is losing 0.11$% at 1.0370 with the next support at 1.0358 (MA200d0 ahead of 1.0351 (low Mar.19) and then 1.0333 (MA10d).
On the upside, a breakout of 1.0405 (MA100d) would bring 1.0410 (high Mar.18) and finally 1.0413 (daily cloud top).
In light of the results of the RBA Foreign Exchange Transactions, Analyst Adrian Foster at Rabobank commented, “The RBA sold (net) A$328M of AU$ to the market in February. At the same time it bought A$345M of AU$ from the government as the government paid its bills. Thus, there’s no suggestion of FX intervention to weaken the AU$ in these data”.
At the moment, the cross is losing 0.11$% at 1.0370 with the next support at 1.0358 (MA200d0 ahead of 1.0351 (low Mar.19) and then 1.0333 (MA10d).
On the upside, a breakout of 1.0405 (MA100d) would bring 1.0410 (high Mar.18) and finally 1.0413 (daily cloud top).