The release of the Reserve Bank of Australia's (RBA) minutes of its meeting on October 1 helped boost the aussie against the greenback early in today's Asian trading. The minutes revealed the board's decision to leave cash rates unchanged at 2.5%. This helped the AUD/USD pair get a push beyond the 0.9530 zone in today's session. This is despite weak new motor vehicle sales in Australia in September, which dropped from 0.8% to -0.1% on a MoM basis, while it also slid from 0.2% to -3.5% on a YoY basis.
The AUD/USD pair is currently trading at 0.9531, with no signs of it going down any time in the near term.
Initial resistance for the AUD/USD pair is currently at 0.9540, followed by 0.9564. Meanwhile, initial support is at 0.9457, followed by 0.9433.
The 'risk on' attitude by the market in recent days has continued so far, at least where the USD/JPY pair is concerned.
From dropping around the 96.60 zone early last week, it had been on a mostly upward trend since then. At the opening of the Asian session, the USD/JPY pair had already broken past the 98.60 zone, before dropping slightly around 98.50.
Reports that are relevant to the pair are Japan's Industrial Production number for August, while the US will have speeches from the Fed's William Dudley and Richard Fisher.
The USD/JPY pair is currently trading at 98.51, with initial resistance seen at 98.87, followed by 99.11. Meanwhile, initial support is at 98.34, followed by 98.10.
The hope that the US government would soon end its stalemate has led the greenback to trade stronger against the euro over the past few hours. Late in the European session, the EUR/USD pair went down from its peak at around 1.3590 to the 1.3555 area. It is currently trading at 1.3556, with initial resistance seen at 1.3579, followed by 1.3613. Meanwhile, initial support is at 1.3526, followed by 1.3492.
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