empty
 
 
21.07.2015 06:06 AM
Forecast of AUD/USD for July 21, 2015

RBA meeting minutes were released at today's Asian session. The Board decided to leave the rate unchanged at 2.0%.

Members noted that global economic conditions remained consistent with growth in Australia's major trading partners being around average over the period ahead.

Domestically, the key forces shaping the economy over the past year were much as they had been for some time. Very low interest rates supported strong growth in dwelling investment and, together with strong housing prices, underpinned consumption growth.

Recent data indicated that employment had grown more rapidly than the population and the unemployment rate had been relatively stable since the latter part of the previous year.

Commodity prices fell further and the Australian dollar was depreciated over the past month. Although the exchange rate against the US dollar was close to levels last seen in 2009, the decline in the Australian dollar had been more modest in terms of a basket of currencies.

AUD/USD

The aussie bounce froma 6-year low ahead of the RBA minutes. After the minutes, the aussie volatility was arrested at the Asian session. US dollar bulls are unlikely to lose their grip. Traders eye Q2 inflation readings and RBA governor Stevens's speech scheduled for tomorrow.

The cross found support at 0.7268 and 0.7233. The cross is trading at 0.7369 at the Asian session. In the daily chart, the recent price movement brought 0.7349 as the key level to watch on a daily closing basis. The real selling ignites below 0.7230 for another 200 pips fall. The fall in commodity prices badly hurts the Australian economy. After the commodities super cycle, iron prices have been falling very badly. The recent gold prices added some more pressure to the AUD.

For an intraweek period, the cross favors selling on a rise. In an extreme case, the cross can climb towards 0.7460, but it is unlikely to happen. Use rises to sell with sl 0.7500. The intraday support is found at 0.7330 and 0.7300. Fresh selling is available below 0.7300 with targets at 0.7270, 0.7250, and 0.7230. A low around 0.7300 is likely to be reached today.

This image is no longer relevant

This image is no longer relevant

Dapatkan keuntungan dari perubahan nilai mata uang kripto dengan InstaForex.
Unduh MetaTrader 4 dan buka perdagangan pertama Anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    GABUNG KONTES
  • Chancy Deposit
    Isi akun Anda sebesar $3000 dan dapatkan $1000 lebih banyak!
    Pada Juni kami mengundi $1000 dalam promo Chancy Deposit!
    Dapatkan kesempatan untuk menang dengan melakukan deposit sebesar $3000 pada akun trading Anda. Setelah memenuhi persyaratan ini, Anda telah menjadi partisipan promo.
    GABUNG KONTES
  • Trade Wise, Win Device
    Top up akun anda dengan dana minimal $500, daftar kontes, dan dapatkan peluang untuk memenangkan perangkat seluler.
    GABUNG KONTES
  • 100% Bonus
    Kesempatan langka untuk mendapatkan bonus 100% pada deposit anda
    DAPATKAN BONUS
  • 55% Bonus
    Ajukan bonus 55% pada setiap deposit anda
    DAPATKAN BONUS
  • 30% Bonus
    Raih bonus 30% setiap kali anda top up
    DAPATKAN BONUS

Artikel yang direkomendasikan

Tidak bisa bicara sekarang?
Tanyakan pertanyaan anda lewat chat.
Widget callback