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20th Oct 2014 AUD/USD Analysis

20th Oct 2014 AUD/USD Analysis

dollar, AUD, Australian Dollar, AUD/USD outlook, AUD/USD technical analysis, AUDUSD technical analysis, AUD/USD Forecast, Aussie Dollar, Reserve Bank of Australia, AUDUSD analysis, AUDUSD outlook, AUDUSD technical analysis,  AUD/USD analysis, AUDUSD outlook, Glenn Stevens, RBA, U.S Dollar, USD AUD/USD ends the week below 0.88 as high of 0.885 is attained again on Wednesday

dollar, AUD, Australian Dollar, AUD/USD outlook, AUD/USD technical analysis, AUDUSD technical analysis, AUD/USD Forecast, Aussie Dollar, Reserve Bank of Australia, AUDUSD analysis, AUDUSD outlook, AUDUSD technical analysis,  AUD/USD analysis, AUDUSD outlook, Glenn Stevens, RBA, U.S Dollar, USD AUD/USD resisted at 0.881 forming lower highs and higher lows on the back of a week of consolidative action

dollar, AUD, Australian Dollar, AUD/USD outlook, AUD/USD technical analysis, AUDUSD technical analysis, AUD/USD Forecast, Aussie Dollar, Reserve Bank of Australia, AUDUSD analysis, AUDUSD outlook, AUDUSD technical analysis,  AUD/USD analysis, AUDUSD outlook, Glenn Stevens, RBA, U.S Dollar, USD Australian dollar trades above the 141.4% of the downtrend Fibonacci Extension at 0.8685

RBA Assistant Governor Christopher Kent is due to speak at the Leading Age Service Australia National Congress in Adelaide on Monday where subtle clues may be derived on monetary policy the RBA may be looking at. On Tuesday the RBA will release minutes of its previous meeting which should reiterate its stance on a slowly recovering property market in the country, with a firm view that the currency is still heading towards a suitable (lower) value that will be sustainable for economic recovery.

China’s central bank, the People’s Bank of China, plans an injection of 200 billion Yuan to stimulate economic growth. This comes after the central bank provided 500 billion yuan of liquidity to China’s five biggest banks last month in a bid to counter the deceleration in the economy. Central bank Governor Zhou Xiaochuan said that the PBOC will stick to prudent monetary policy to ensure reasonable growth in money and credit. China will conduct required liquidity operations and push forward with market-based interest-rate reforms, and is not keen to perform broad-based stimulus like what its European counterparts are contemplating. This could greatly aid Australia as one of its main trading partners except of course if the Australian dollar depreciates at the same time.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Slight bearish 0.856 0.8640.871 0.881 0.8850.89

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