OctaFX | OctaFX Forex Broker
Open trading account

AUD/USD downside protected beyond 0.86 handle

FXStreet (Guatemala) - AUD/USD is trading at 0.8605, down -0.10% on the day, having posted a daily high at 0.8624 and low at 0.8594.

AUD/USD has been oscillating on the 0.86 handle threatening the downside for pretty much the entire Asian session so far. The market had been building up, to what has turned out to be a non event, in the RBA’s FX transactions for October. (Market 389m vs previous 910m, Government -487m vs prior -1017m and Other 114m vs prior 115m).

Markets have been keeping up to speed on this releases to understand whether the RBA has been intervening in their currency. The Central banks officials have expressed very clearly that the Aussie is over priced and would prefer it lower within a competitive arena.

The overall picture remains bearish while 0.86 remains a key level that appears to be guarded albeit thinly. A break of the downside would be an extension of the bear trend opening up the 0.8000 handle and exposing the desired lower levels of the RBA into the 0.7000’s.

Australia RBA Foreign Exchange Transaction: 389M (October) vs previous 910M

Read more Previous

Sterling fending off the bears on the Fed - FXStreet

Valeria Bednarik, chief analyst at FXStreet noted that the pound extended its early gains against the greenback, trying to extend them above the 1.5700 figure after FED’s news.
Read more Next
Start livechat