AUD/USD making progress on the 0.93 handle

FXStreet (Guatemala) - AUD/USD is trading at 0.9329, up 0.17% on the day, having posted a daily high at 0.9335 and low at 0.9305.

AUD/USD is making slow progress on the 0.93 handle while consolidating the downside move from above the 0.9477. Meanwhile, analysts at TD Securities explained that a busy week continues for events in Australia. “The RBA Board meets tomorrow (expect a familiar narrative about sub-trend growth ahead, inflation being “within target”, the AUD is high compared with commodity prices and that it is prudent that there is a “period of stability in interest rates”) and we expect unchanged GDP and CPI forecasts on Friday’s RBA quarterly Statement on Monetary Policy”.

AUD/USD Levels

Spot is presently trading at 0.9330, and next resistance can be seen at 0.9343 (Daily Classic R1) and 0.9372 (Daily Classic R2). Next support to the downside can be found at 0.9327 (Hourly 100 SMA), 0.9325 (Daily 100 SMA), 0.9319 (Hourly 20 EMA), 0.9317 (Daily Open) and 0.9309 (Daily Classic PP).