Overnight the Reserve Bank of Australia left interest rates unchangedand issued a somewhat hawkish comment which helped weaken the AUD USD.
Daily Analysis
AUD USD
Overnight the Reserve Bank of Australia left interest rates unchanged and issued a somewhat hawkish comment which helped weaken the AUD USD.
Technical and fundamental factors are helping this pair rally during the New York session. Two 50% retracement levels at .8354 and .8353 are providing the support. The catalyst for today’s intraday rally was the better than expected U.S. ISM Report.
This report triggered a rally in U.S. equity markets which helped increase demand for higher yielding currencies.
