The Reserve Bank of Australia basically left the statement unchanged as well as the rates unchanged, as expected. Yes, they did mention the high value of the Australian dollar, but there wasn’t anything new. Combined with some positive retail sales data, AUD/USD managed to rise above 0.87. Is it out of the danger zone? Here is the paragraph relating to the exchange rate in the statement. Glenn Stevens and his colleagues acknowledge the lower levels of the Aussie, but aren’t really happy, especially as commodity prices have fallen as well: The exchange rate has traded at lower levels recently, in large part reflecting the strengthening US dollar. But the Australian dollar remains above most estimates of its fundamental value, particularly given the further declines in key commodity prices in recent months. It is offering less assistance than would normally be expected in achieving balanced growth in the economy. Earlier, Australia reported a surprising rise of 1.2% in September’s retail sales, 4 times the early expectations for 0.3% and much better than 0.1% in August. The trade balance disappointed with a large deficit of 2.26 billion, more than 1.78 billion expected. However, the health of the domestic consumer had the upper hand. Support appears at the round number of 0.87, followed by the previous double bottom of 0.8660. Resistance is at 0.8765, with more important resistance at 0.8820. For more, see the AUDUSD forecast. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Bearish EUR/USD; Bullish USD/JPY – BofA Merrill Yohay Elam 8 years The Reserve Bank of Australia basically left the statement unchanged as well as the rates unchanged, as expected. Yes, they did mention the high value of the Australian dollar, but there wasn't anything new. Combined with some positive retail sales data, AUD/USD managed to rise above 0.87. Is it out of the danger zone? Here is the paragraph relating to the exchange rate in the statement. Glenn Stevens and his colleagues acknowledge the lower levels of the Aussie, but aren't really happy, especially as commodity prices have fallen as well: The exchange rate has traded at lower levels recently, in… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.