Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Forex - Aussie moves higher against softer greenback

Published 20/10/2015, 05:29 pm
Aussie gains ground vs. greenback in late trade
AUD/USD
-
EUR/AUD
-

Investing.com - The Australian dollar was higher against its U.S. counterpart on Tuesday, as sentiment on the greenback remained vulnerable amid growing uncertainty over the timing of a U.S. rate hike.

AUD/USD hit 0.7278 during late Asian trade, the session high; the pair subsequently consolidated at 0.7275, gaining 0.37%.

The pair was likely to find support at 0.7195, the low of October 14 and resistance at 0.7365, the high of October 15.

The greenback remained under pressure after a batch of U.S. data last week painted a mixed picture of the country's economy and fuelled further uncertainty over when the Federal Reserve plans to raise interest rates.

Meanwhile, in the minutes of its October policy meeting, the Reserve Bank of Australia said the Aussie's depreciation and low interest rates have helped the local economy rebalance.

The comments staved off any expectations for a rate hike by the RBA in the near future.

The Aussie was higher against the euro, with EUR/AUD sliding 0.35% to 1.5571.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.