The AUD/USD pair continued to trade on the upside since yesterday's RBA announcement. Governor Glenn Stevens indicated that there won't be any rush to cut rates again soon, adding that much will depend on how the economy performs in the future.
From opening below 0.8900 at the start of the week, the AUD/USD pair has shot up just above the 0.9100 earlier today. This was also helped by the positive GDP data from Australia, wherein the QoQ figure went in line with expectations, moving from the previous 0.5% to 0.6%. Meanwhile, the YoY figure went slightly better than expected from 2.5% to 2.6%.
The AUD/USD pair is currently trading at 0.9097, with initial resistance seen at 0.9120, followed by 0.9142. Meanwhile, initial support is at 0.9017, followed by 0.8995.
Like the AUD/USD pair, the AUD/JPY pair also continued its rally today. The RBA decision and the Australian GDP have also helped lift the pair.
The AUD/JPY pair is currently trading at 90.58, with initial resistance seen at 91.08, followed by 91.31. Meanwhile, initial support is at 89.68, followed by 89.46.
As for the GBP/JPY, the pair has remained largely flat throughout the week after rallying at the start of the week. From trading just below the 152.00 level, the pair managed to shoot up to a little over 154.75 on Monday. Its value has increased little over the past few days, however, and was hardly affected by the yen strength and pound weakness in the short term. It is likely that traders are still awaiting the bigger news that will come from the BoE and the BoJ who will announce their respective interest rate decisions on Thursday.
The GBP/JPY pair is currently trading at 154.95, with initial resistance seen at 155.80, followed by 156.19. Meanwhile, initial support is at 154.57, followed by 154.18.
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