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Stabilized rate of AUD / USD remains solid above the 1.0400
To keep the chances of achieving positive list of strong and supported by positive stochastic on the time frame for four hours.
Awaited targets start at 1.0550, and SMA 50 provides good support for the emerging wave
AUDUSD still indicating consolidation phase despite the tendency is still down. If through 1.0388/85, the next nearest target at 1.0374 and 1.0362.
The rebound from 1.0148 in AUD/USD could extend higher. But as it's corrective looking so far, we'd be cautious on reversal signal as it approaches 1.0624 resistance. On the downside, break of 1.0330 minor support will turn bias back to the downside for 1.0235 and below.
"Ausie Weakens After RBA Statement"
Australian Dollar selloff over the area in a few minutes before and after the release of Friday's RBA statement related setting monetary policy, through support near 1.0395 (Oct. 25 high) and 1.0390 (EMA-200 Hours) to go down to a low of 1.0376 (low 3 days ).
In a statement, the central bank said that the RBA has cut its GDP forecast for 2013, lowering growth forecasts for 2013 and said it had seen a slight growth in employment and the unemployment rate rose slightly. Aussie has recovered thin and last traded at 1.0385 area.
The impact of the RBA statement, John Noonan, an analyst at IFR Markets said that the statement is an opportunity for the possibility of a rate cut in December, but Ivan Delgado, editor and currency analyst at FXstreet.com not expect a cut in interest rates to next year.
The pair has risen to 1.03847. If the pair stays above this level the pair will continue rising to 1.05810.
Resistance: 1.05810, 1.07806, 1.09604
Support: 1.03847, 1.01873, 1.00031
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AUDUSD still trying to maintain the bullish trend. Although now the price is under the daily pivot, but it looks like this pair don't want to go down. However if the H1 candle closed below the pivot, then probably AUD will go lower today. I think it may touches the 1.0363 level
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Pressed pair AUD / USD negatively to attack now barrier of 1.0400, which is trying to SMA 50 protection and the protection of the upward trend
Unless the level of 1.0365 is broken, we expect to complete the bullish trend is likely in the short term, and the first goal is expected resides at 1.0550
The Australian dollar rose in value after the publication of positive statistics from China and Australia. Accordingly the Customs of the PRC, the China's exports rose in October by 11.6 % in annual terms, after rising by 9.9 % in September. The growth of October's export was the most significant in the last five months and has surpassed the consensus of analysts’ forecasts. Also, the trade surplus of China in the past month increased to a maximum of almost four years - to $ 31.69 billion from $ 27.67 billion in September while economists had expected it growth to $ 27 billion. As for the good news from Australia, the amount of mortgage lending in September rose by 0.9 %, compared with the revised figure of 2.1 % growth in August and expectations of increase of 1.1 %.
AUDUSD rebounded from 1.0359. Further rise to test 1.0480 resistance will likely be seen, a break above this level indicates that the uptrend from 1.0236 has returned, then the next target would be at 1.0500 area.
The pair has tested resistance at 1.04407 couldn’t break it and rolling back to 1.03535.
Resistance: 1.04407, 1.05332, 1.06164
Support: 1.03535, 1.02558, 1.01744