The AUD/USD tumbled 1.5% on Tuesday, falling to 0.6404 after the Reserve Bank of Australia (RBA) delivered a broadly expected 25 basis point rate hike and wrapped it in a dovish statement, sending the Aussie (AUD) skidding against the US Dollar (USD).
The AUD/USD fell after a dovish RBA hiked rates but talked down expectations at the same time. The Aussie shed 1.5% post-RBA 25 basis point rate hike. Coming up in the mid-week: Fed Chair Powell speech, Aussie Consumer Inflation Expectations. The Aussie recovered to head into Wednesday trading near 0.6440. RBA hikes interest rate to a 12-year high of 4.
Early Thursday sees November's Australian Consumer Inflation Expectations, which last came in at 4.8% for October. AUD/USD Technical Outlook Tuesday's topside rejection following the dovish RBA showing is seeing the Aussie head back towards the 0.6400 handle, where the 50-day Simple Moving Average currently sits, and bulls will be looking to springboard off the moving average in order to make a second bid for clearing technical resistance at the 0.6500 handle.
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