February 1, 2010
Aussie Dollar Surges ahead of RBA Announcement
The AUD USD finished higher after earlier weakness. This market also posted a daily closing price reversal bottom. This pattern could help trigger a short-covering rally to .9058 over
the near-term. Stronger demand for higher risk assets, short-covering and oversold conditions also contributed to the rally.
On February 2nd the Reserve Bank of Australia will make its monetary policy announcement. There doesn’t appear to be a strong consensus at this time whether it will raise interest
…
