More pressure on the Aussie today after Governor Lowe kept it low. The credit rating agency Moody’s downgraded Australia’s Big Four banks. Are they worried about house prices? This is one of the worries of the RBA as well.
Australia still enjoys a perfect credit rating: AAA from three rating agencies, or a 9 As if you wish. Does the downgrade of its banks precede a downgrade of the sovereign?
AUD/USD slips under 0.76, with 0.7586 the low so far.
Support awaits at 0.7565, a level that supported the pair a few days ago, after it made an attempt to the upside. Resistance is at the stubborn high of 0.7640.
from Forex Crunch http://feedproxy.google.com/~r/ForexCrunch/~3/aTB7zFpb3HQ/
from Online Forex Trading Resource
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