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FXstreet.com (Sydney) - The expected rally in the Aussie did not eventuate despite the rise in interest rates by the RBA. At one stage the AUD traded at a low of 0.8916. While there is a slight tendency upwards, the AUD oscillates in a narrow range with support at 0.8890 and resistance at 0.9130.
The rates hike could be interpreted by investors as the RBA's final move on rates until early next year. ANZ Banking Group head of trading Alex Sinton said: "Rather than a hike in December, (it will be a) rest until February and that's helping pull the Aussie dollar back."
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