Aussie strengthened, but the RBA interest rate is still in doubt
In currency trading the Asian session today (01-03), looking Aussie currency has strengthened against the U.S. Dollar. AUD / USD pair now moving in the range of 0.8993.
Tomorrow RBA (Reserve Bank of Australia) will announce the decision on interest to do that right now at the level of 3.75%. Improvement in consumer optimism, property prices soared and lower levels of Australian pengangguan sensational enough to make RBA needs to raise interest rates in order to control inflation. However, the opportunity to hold open enough.
Economic growth in Australia is very fast compared to countries in America and Europe zone, because it is supported by the rapid economic growth in Asia. RBA has raised interest rates 3 times in a row in 2009, but this time the interest rate for the fourth time more likely to be postponed due to concerns in the European debt problems. So investors need to be careful, the strengthening Aussie might not last long.
Analyst from many consulting estimates that the AUD / USD is likely to strengthen to the level of resistance is 0.9090, if passed at 0.9040 level. Aussie attenuation can occur if the past level of support at 0.8940 to the 0.8890 level.
