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AUD/USD extends the upside, around 0.9850

FXstreet.com (Barcelona) - The Aussie dollar is prolonging its intraday upside on Tuesday, hovering over 0.9825/30 after the release of the RBA minutes.

In the opinion of Adrian Foster, Analyst at Rabobank, “The RBA noted households starting to respond to lower rates, this is a neutral message, and pointed to the rate cut being directed at boosting business. This latter point lends these Minutes a slightly dovish tone but it’s one the market was already basing its thoughts on”.

AUD/USD is now up 0.18% at 0.9827 and a surpass of 0.9883 (hourly highs May 16) would open the door to 0.9920 (high May 15) and finally 0.9957 (MA10d).
On the flip side, support levels line up at 0.9765 (hourly lows May 20) ahead of 0.9711 (low May 17) and then 0.9627 (low Jun.4 2012).

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