4 Nov 2014
AUD/USD breaks above 0.87 post RBA
FXStreet (Bali) - AUD/USD is trading on a bullish tone above 0.87 following the RBA monetary policy release, in which the CB kept its neutral rhetoric, noting a period of stability in interest rates ahead.
Technically, Jim Langlands, Founder at FXCharts, notes: "On the topside, sellers lining up above 0.8700, at 0.8725 and at the session high at 0.8760. On the downside, below 0.8641, the next level at 0.8600 will provide minor support, but beyond that, there is little to hold it until 0.8540 (50% of 0.6002/1.1082) and then the May 2010 low at 0.8315."
Technically, Jim Langlands, Founder at FXCharts, notes: "On the topside, sellers lining up above 0.8700, at 0.8725 and at the session high at 0.8760. On the downside, below 0.8641, the next level at 0.8600 will provide minor support, but beyond that, there is little to hold it until 0.8540 (50% of 0.6002/1.1082) and then the May 2010 low at 0.8315."