Daily Forex Trading News from Valutrades | Reserve Bank of Australia

AUDUSD - Eases from 18 Month High above 0.72 after RBA Keeps Rates Steady

on August 11, 2020 | By Graeme Watkins | Reserve Bank of Australia, AUD Products

In the last few weeks the AUDUSD has been able to push strongly through the key 0.7050 level and reach an 18 month high near 0.7250 before easing in the last day or so. Since that time it has enjoyed some support from the key 0.7050 level keeping the AUDUSD above that level and near the highs. Should the support at 0.7050 fail, this level may reverse roles and provide some resistance again. For the month or so before the break through the 0.7050 level, the AUDUSD had seemed content to remain within a range between another key level of 0.6850 and the resistance at 0.7050.

AUDUSD - Settles Around Key 0.6850 Level as RBA Warns of 'Coronavirus Shadow'

on June 30, 2020 | By Graeme Watkins | Reserve Bank of Australia, AUD Products

In the last two weeks or so the AUDUSD has consolidated right around the key level of 0.6850 after having eased from its highest level this year just above 0.7050. It had spent several weeks pushing higher to reach that level above 0.7050 however it ran into a wall of resistance at this key level which has previously offered stiff resistance to the AUDUSD last year. It has since eased from that resistance but enjoyed support from another key level in 0.6850 which has propped it up allowing it to rally again towards the key 0.7050 level, before the AUDUSD consolidated right around 0.6850. Should support at 0.6850 fail, then the 0.6750 level is also likely to step and offer some support having been a significant level earlier in the year.

AUDUSD - Surges Towards 0.70 Again as RBA Sees Reasons for Optimism

on June 16, 2020 | By Graeme Watkins | Reserve Bank of Australia, AUD Products

In the last week or so the AUDUSD has reached its highest level this year just above 0.7050 however it ran into a wall of resistance at this key level which has previously offered stiff resistance to the AUDUSD last year. It has since eased from that resistance but enjoyed support from another key level in 0.6850 which has propped it up allowing it to rally again towards the key 0.7050 level. The 0.6850 level is likely to step in and provide some resistance as this has also played a role last year. Should support at 0.6850 fail, then the 0.6750 level is also likely to step and offer some support having been a significant level earlier in the year.

AUDUSD - Surges Above Key 0.6750 Level as RBA Urged to Go Below Zero

on June 2, 2020 | By Graeme Watkins | Reserve Bank of Australia, AUD Products

In the last day or so the AUDUSD has surged to its highest level in more than four months breaking through the key 0.6750 level which has played a significant role in the last 12 months. It had been meeting some resistance around 0.6650 for several days before surging higher. The 0.6850 level is likely to step in and provide some resistance as this has also played a role last year. For several weeks in May, the AUDUSD consolidated in a narrow range roughly between 0.64 and 0.65, meeting some resistance around 0.6550 during that time which kept a lid on prices and stopping any rallies from continuing higher to challenge the 0.6750 level.

AUDUSD - Consolidates Around 0.58 after Emergency RBA Rate Cut

on March 24, 2020 | By Graeme Watkins | Reserve Bank of Australia, AUD Products

In the face of steep falls, the AUDUSD has been able to stop the bleeding for the time being and consolidate in the last few days spending several days trading around 0.57 and 0.58. Given how fast it had been moving, the fact that it has slowed right down recently is a positive for its short term outlook. In less than two weeks, the AUDUSD dramatically dropped sharply from around 0.66 down to an 18 year low near 0.55. It had only recently been applying pressure on the key 0.6750 level before the drop.

Australia Employment Change

on March 18, 2020 | By Graeme Watkins | Reserve Bank of Australia, AUD Products

Today at 12:30am UK Time. Australia Employment Change measures a change in the number of officially employed Australians in the reported month, and growth is a sign of a stronger labor market and can be seen as positive for AUD. F: 11.6K, P: 13.5K. #AUDUSD may test 0.62.

AUDUSD - Drops Below 0.65 after RBA Cuts Rates to Historic Low

on March 11, 2020 | By Graeme Watkins | Reserve Bank of Australia, AUD Products

The last two days has seen the AUDUSD moving sharply lower which has seen it spend most of its time below 0.65 and in doing so, near an 11 year low. It spent the last week rallying higher pushing back up towards 0.67 before the recent drop. After applying pressure to the resistance at the key 0.6750 level in the first half of February, the AUDUSD has since resumed its medium term down trend which started at the beginning of the year. Due to its current multi-year low, there are no obvious support levels available, although the AUDUSD may very well be propped up at different levels.

Reserve Bank of Australia (RBA) Interest Rate Decision

on March 3, 2020 | By Graeme Watkins | Reserve Bank of Australia, AUD Products

Today at 3:30am UK time. RBA Interest Rate Decision is one of the key instruments of the national monetary and credit policy, and the releases contain announcements of interest rate and explanations to the bank's decision. F: 0.75%, P: 0.75%. #AUDUSD may test 0.65.

AUDUSD - Drops to Eleven Year Low Below 0.66 on Jobs Data

on February 25, 2020 | By Graeme Watkins | Reserve Bank of Australia, AUD Products

After applying pressure to the resistance at the key 0.6750 level, the AUDUSD has since moved sharply lower falling below 0.66 briefly to its lowest levels for more than eleven years. Due to this multi-year low, there are no obvious support levels available, although the AUDUSD may very well be propped up at different levels. The AUDUSD has now spent the last month below the key 0.6750 level and is likely to meet resistance at this level again if and when it is able to rally higher.

AUDUSD - Drops to Ten Year Low Below 0.67 after RBA Holds Rates

on February 11, 2020 | By Graeme Watkins | Reserve Bank of Australia, AUD Products

In the last few days the AUDUSD has met stiff resistance at the key 0.6750 level and has moved lower to its lowest levels for more than ten years below 0.67. After dropping sharply through any support at 0.6750, it was able to rally higher and attempt to move back above this level however it was met with strong selling.