AUD/USD slides as RBA meeting minutes awaited

ForexNewsNow | Published on October 18, 2010 at 6:40 am

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Intraday analysis - a pile of Australian dollarsNEW YORK (Forex News Now) – The U.S. dollar extended a recent bounce against its Australian counterpart on Monday, as FX traders awaited minutes from the Reserve Bank of Australia’s last policy-setting meeting.

In European morning currency market trading, AUD/USD hit 0.9873, down 0.34 percent on the day, after pulling back from Friday’s peak above parity at 1.0002.

The Aussie’s gains also came after official data showed that sales of new motor vehicles in Australia rose in September, and remained far above the same month a year ago.

The Australian Bureau of Statistics said earlier that a seasonally adjusted 85,800 vehicles were sold in September, up 0.9 percent from 84,999 in August.

According to intraday analysis, USD/JPY was likely to touch immediate support around 0.9767, the low of Oct. 12, and encounter resistance around 1.0002.

The U.S. Treasury, meanwhile, was later due to publish its closely watched Treasury International Capital report for August. The U.S. was also due to release official data on industrial production and capacity utilization.

Elsewhere, the Aussie slumped versus the yen: AUD/JPY traded at 80.19, down 0.66 percent, according to intraday analysis.

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