After a couple of negative trading days, AUD is on the rise again due to Q2 Australian GDP that showed 1.2% growth (exceeding the 0.9% predicted earlier). Q1 GDP has been also updated by 0.5% to reach 0.7% growth for the first quarter. Subsequently, AUD is getting stronger against USD standing at AUD 0.900. In the long run it's evident that since early June when the pair stood at 0.8070 AUD the Australian Dollar has been rising constantly. If this trend continues, AUD might climb up to next USD resistance at 0.9220.

EUR/AUD – 1.4130

The EUR/AUD pair is quoted the lowest in the two months period at 1.4130. The daily chart shows that AUD is getting stronger against EUR for the past couple of months when EUR/AUD stood at 1.5000, AUD resistance. If this trend continues, the pair might break the 1.40 line towards the next EUR support at 1.3960. Tomorrow The Bank of Europe is supposed to announce the new interest rate, which is expected to stay at 1% level. The traders are waiting for BOE Governor Trichet's press-conference to look for clues of the future monetary policy, since he has a real influence over the EUR trades.