AUD/USD opened with 0.7621 high, then retreated to 0.7581 (today's low). AUD/USD made a correction, then started a bullish trend at 9 AM GMT, re-bounced to 0.7616, currently trading at 0.7610, after the RBA released its October financial stability review. However, the AUD/USD remained under pressure as the local housing supply is causing risk and ahead of RBA's latest monetary policy meeting minutes during early Asian session on Tuesday expecting to stay on the wait and see approach.
Trend: bullish
Key levels to watch: Daily Pp 0.7604
First Resistance: R1 0.7636, R2 0.7656. R3 0.7690, R4 0.7716
First Support: S1 0.7589, S2 0.7555, S3 0.7526, S4 0.7495, S5 0.7465
Remark: AUD/USD trend is bullish since Wednesday 12th. Look forward for today's U.S NY index at 1:30 PM GMT, then industrial production data at 2:15 PM GMT, later early morning tomorrow RBA Gov Lowe speech.
Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.