- AUD/USD opened Wednesday 0.7018 traded 0.7015-71 in Asia; last 0.7050, largely unchanged after RBA Lowe’s comments
- Lowe said lower AUD helping Australia’s economy adjust, but non-mining business investment needed, didn’t suggest RBA ready to take more easing action
- The pair ignored Consumer Sentiment Index which tumbled 5.6% to 93.9 points in September from 99.5 in August
- AUD/USD unable to extend gains beyond 0.7070 levels, but remains supported above hourly 200-SMA at 0.7036
- Markets await US economic data and the crucial China CPI due later in the session and Australia employment report due tomorrow for further cues
- Immediate resistance for the pair located at 0.7070 (Day’s High), above which gains could extend to 0.7100 levels
- On the flip side, support is seen at 0.7042 (Hourly Tenkan-Sen) ahead of 0.7036 (Hourly 200 SMA)
The material has been provided by InstaForex Company – www.instaforex.com