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20 May 2013
AUD/USD upside capped at 0.9790
FXstreet.com (Barcelona) - Attempts to climb further have faltered around 0.9790 on Monday, returning to the current region of 0.9770 as risk-off trade is creeping back to the markets.
Greg Gibbs, FX Trading Strategist at RBS commented, “RBA minutes are released on Tuesday; these come after the recent Statement on Monetary Policy and may not reveal much that we do not already know. Although they may read with a more dovish bias given the RBA decided to cut earlier this month”.
AUD/USD is up 0.09% at 0.9766 with the next resistance at 0.9831 (high May 17) while a breach of 0.9711 (low May 17) would expose 0.9627 (low Jun.4 2012) and finally 0.9581 (low Jun.1 2012).
Greg Gibbs, FX Trading Strategist at RBS commented, “RBA minutes are released on Tuesday; these come after the recent Statement on Monetary Policy and may not reveal much that we do not already know. Although they may read with a more dovish bias given the RBA decided to cut earlier this month”.
AUD/USD is up 0.09% at 0.9766 with the next resistance at 0.9831 (high May 17) while a breach of 0.9711 (low May 17) would expose 0.9627 (low Jun.4 2012) and finally 0.9581 (low Jun.1 2012).