AUD/USD: Volatility with RBA
September 19th, 2010
Asian session seems pretty quiet ahead of Nikkei opening, and later on the day, RBA minutes, as major trade near New York close; also, FOMC Minutes tomorrow could keep major range bound, waiting to see if FED decides, or not, to extend QE.
Australian dollar however, could see some volatility as the currency remains strong; despite indicators are heading lower in this 4 hours chart, movements should be consider corrective till 0.9405, where 20 SMA should act as dynamic support. Lose of this last will open door for further loses, targeting the 0.9330/60 zone.
Above intraday high 0.9493, immediate target for the cross comes at 0.9520 strong static resistance area, followed later by 0.9550/60 price zone.
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