Forex: AUD/USD finishes at 1.0250, RBA in focus

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FXstreet.com (San Francisco) - The AUD/USD pair ended the North American session above the 0.50 Fibonacci level of the 1.0861/0.9580 sell-off on Monday, closing at 1.0250 from 1.0226 late Friday after trading a 1.0202/1.0259 range intraday.

The minutes of the last Reserve Bank of Australia ( RBA ) meeting will be key risk event for AUD this Tuesday in the Asia-Pacific. In the latest meeting, RBA head Glenn Stevens struck an optimistic chord, highlighting the world economy's pick up at the start of 2012, but, "Considering that the Land Down Under is now facing a 5.2% jobless rate and all but 800 jobs were wiped out from May, it could be difficult for investors to celebrate the RBA's optimism for the economy," explains the BabyPips.com FX-Men Team.

If AUD/USD manages to trek higher in the hours and sessions ahead, immediate resistance lies at 1.0283 (11 July high), then at 1.0321 (4 July high) and 1.0370 (61.8%, mentioned decline). The downside offers support at 1.0174 (21-day EMA), 1.0141 (10 May high) and 1.0116 (55-day EMA).



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

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