Forex Zone (Forex Zone)
Czech markets  |  October 02, 2012 10:01:14

Australian night surprise


Australia's central bank (RBA) surprised markets. Expectations of interest rate setting was such that the rate will not change and remains at the current 3.50%. But central bankers are not immune to the outside world and do not want to "seize" its own economy in the world when there is a wave of easing monetary policies.
RBA Night fell primary interest rate to 3.25%. Comments to reduce RBA gave more.We have chosen a particular risk weakening global economy, uncertainty about short-term growth in China and low commodity prices. It comes to us from the AUD could test medium to the surface parity (1.0000) with USD.

As regards developments in the monitored pair EUR / USD, so the statistical probability of yesterday lived up and strengthened. There was a test target around 1.2905, for which we are warned . Price during the American session came to a level around 1.2940, for which we also pointedand which is formed of a high.

Currently (9:04) pair EUR / USD traded at 1.2887 price. We expect there to test the Asian session low. Thereafter, the price could test the 1.2850 level to where we see significant support. If the price is still wanted to test below, we see another important support to about 1.2795. Still outweighs our bullish outlook and expectations test targets above the current market price, which we have in the last two weeks our attention. Major resistance above the current market price we perceive around 1.2940 and about 1.2960 and 1.2990.

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