The Australian dollar is strengthening after the decision by the RBA to keep the interest rate unchanged.
Market participants are waiting for US Non-farm Payrolls , due this Friday. On Thursday, Employment statistics and Unemployment Rate for June are released in Australia. A significant decrease is expected.
On Friday, BoJ publishes the Monetary Policy Statement and the BoJ Governor Kuroda delivers his speech.
Support and resistance
The pair consolidated near the support levels 91.55(ЕМА144 on the 4-hour chart) and 92.00 (ЕМА200).
The pair is trading within the following ranges: a wide one (89.50-93.45), a medium one (90.75-92.50) and a narrow one (91.00-92.00). The breakout of 92.00 would push the pair further up towards 92.75, 93.45, 94.30.
The breakdown of the strong support level 90.75 would push the pair down towards 89.40, 88.00, 82.00.
Indicators on the 4-hour and daily charts give sell signals.
Support levels: 91.00, 90.75, 90.00, 89.40, 89.15, 88.25.
Resistance levels: 91.80, 92.00, 92.75, 93.45.
Open long positions from 91.55, 91.40 (with appropriate indicators signals) with targets at 92.75, 93.45 and stop-loss at 91.10.