Forex: AUD/USD: Aussie, at week high testing 0.9175/80 area after hawkish RBA

Reported by FXstreet.com on Friday, 6 November 2009 (on November 6, 2009)

FXstreet.com (Barcelona) - Australian Dollar is gathering strength and on the back of rather hawkish comments by the RBA, the pair has broken above week-high at 0.9145 and attacks 0.9175/80 (Oct 29 and 30 high) on early European session.If the pair breaks above 0.9180, next resistance levels lie at 0.9215 (Oct 27 high) and 0.9300 (Oct 20 high). On the downside, the pair might find support at 0.9115, and below here, 0.9025 (Nov 5 low) and 0.8950/55 (Nov 4 low).The Reserve Bank of Australia raised the country's GDP forecast and announced that it will raise interest rates gradually which for some analysts hints for a rate hike before the end of the year.For more information, read our latest forex news.

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Forex: AUD/USD: Aussie, at week high testing 0.9175/80 area after hawkish RBA
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