Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By CountingPips (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Australian Dollar on the defensive vs US Dollar, Euro, Japanese Yen prior to RBA decision

% of readers think this story is Fact. Add your two cents.


By CountingPips.com

The Australian dollar has been on the decline today in Forex trading action ahead of Tuesday’s Reserve Bank of Australia (RBA) policy meeting and interest rate decision. The Aussie has fallen against the US dollar, Japanese yen and the European common currency in foreign exchange trading as data published today showed that Australian retail sales unexpectedly contracted in March by 0.4 percent.

Bloomberg data, based on overnight-index swap rates, shows a 53% chance of an interest rate reduction on Tuesday while large money traders, including possibly George Soros, are rumored to be betting on a rate cut.

The AUD/USD in trading today declined and ended the day near the 1.0251 exchange rate level at the New York close of business. This was a decline of approximately 50 pips on the day. The Australian dollar, meanwhile, showed more modest declines against the Japanese yen and the euro today of approximately 25 pips and 30 pips, respectively.



AUDUSD



AUD/USD Support & Resistance Levels:

The AUD/USD currency pair trades right near the 1.0250 exchange level at the current time with a downside support level coming into play at 1.0220. This level has provided support numerous times since February while a close below this level would be the lowest close since the beginning of March. Lower downside targets would bring 1.0200 and then 1.0165 to 1.0150 which would be bringing the pair to the lowest levels of 2013.

Upside targets may be capped at the 1.0300 major resistance level that has been an obstacle in the past and features the weekly pivot point very close by. If the pair can get by that obstacle the 1.0325 to 1.0350 resistance will likely come into play.

AUD/USD Changes & Ranges: Past 6 Weeks

Date Pct Change True Range
2013.03.31 -0.351 0.0142
2013.04.07 1.306 0.0234
2013.04.14 -2.144 0.0255
2013.04.21 -0.024 0.0118
2013.04.28 0.354 0.0163
*2013.05.05 -0.564 0.0089

* current week so far

Pivots and Trends Data:

Weekly Pivot Point: 1.0295
Monthly Pivot Point: 1.0390

Linear Regression Indicator Trend / Strength Data:

30-day current trend is BEARISH / Trend strength of -230.4 pips
60-day current trend is BULLISH / Trend strength of 52.9 pips
90-day current trend is BEARISH / Trend strength of -36.1 pips
180-day current trend is BEARISH / Trend strength of -49.7 pips
365-day current trend is BULLISH / Trend strength of 239.6 pips

Article by CountingPips Forex Blog, News & Analysis

The post Australian Dollar on the defensive vs US Dollar, Euro, Japanese Yen prior to RBA decision appeared first on CountingPips Forex News & Currency Trading Blog.


Source: http://countingpips.com/2013/05/australian-dollar-on-the-defensive-vs-us-dollar-japanese-yen-prior-to-rba-decision/


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.


LION'S MANE PRODUCT


Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules


Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.



Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.


Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.