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AUD/USD remains consolidated into Asia open

FXStreet (Barcelona) - AUD/USD is trading at 0.8780, up 0.53% on the day, having posted a daily high at 0.8790 and low at 0.8780.

The Australian dollar was a low key player over night and into the US session with calmer markets moving within consolidative ranges. We are waiting to get the RBA minutes in under a few hours time for the October meeting where we will look for clues around the outlook of the economy especially in relation to the housing sector and the how the effects might be taking place in respect to the recent drop in the value of the Aussie dollar. Inflation data is also to follow in CPI for Q3 later on in the week and we will be hearing from RBA’s Stevens who will be speaking as well. On the US side of activity, it’s a quieter week, with less Fed appearances while we wait for the FOMC next week.

AUD/USD noteworthy levels

Spot is presently trading at 0.8780, and next resistance can be seen at 0.8794 (Daily Classic R1), 0.8800 (Daily High), 0.8814 (Yesterday's High), 0.8820 (Daily 20 SMA) and 0.8829 (Weekly High). Next support to the downside can be found at 0.8774 (Hourly 20 EMA), 0.8766 (Hourly 200 SMA), 0.8764 (Daily Classic PP), 0.8758 (Daily Open) and 0.8757 (Hourly 100 SMA).

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