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AUD/USD upside capped around 0.9650

FXstreet.com (Barcelona) - After falling to sub 0.9600 levels overnight, the Aussie dollar managed to gather traction and attempt a rebound, although faltering around 0.9650.

“Nil on the data front today with the market awaiting the quarterly CAPEX report on Thursday as a signpost for RBA policy. If mining investment is slowing fast or non-mining investment not picking up much; or some combination of the two, then the focus will be back on whether RBA will pull the trigger again”, commented Adrian Foster, Analyst at Rabobank.

The pair is now up 0.14% at 0.9648 with the next resistance at 0.9741 (high May 24) followed by 0.9778 (high May 23) and finally 0.9798 (MA10d). On the flip side, a breach of 0.9593 (low May 23) would open the door to 0.9581 (low Jun.1 2012).

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