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).
