The AUD/USD reached the highest intraday level in two months on Monday at 0.6522 and then pulled back, falling slightly below 0.6500.
AUD/USD Current Price: 0.6494 RBA is expected to raise interest rates on Tuesday. A no-hike from the RBA could weigh on the Aussie. The AUD/USD is correcting lower, after testing the 100-day SMA. The short-term bias remains to the upside, but the bearish correction could extend further. The key event ahead for the Australian Dollar is the Reserve Bank of Australia meeting on Tuesday.
It will be a quiet week regarding US data, with no top-tier data due on Tuesday. The release of the Chinese trade data during the Asian session before the RBA decision, could weigh on market sentiment. AUD/USD short-term technical outlook On the daily chart, the AUD/USD pair is currently testing the 100-day Simple Moving Average at 0.6510. A consolidation above this level would open the doors to further gains. The next crucial SMA to watch is the 200-day at 0.6615.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AUD/USD Price Forecast: Aussie Dollar Looks to RBA for GuidanceAUD prices trade marginally lower today as investors keenly await tomorrow’s RBA interest rate decision.
Read more »
RBA/Fed convergence could boost AUD/USD in 2024AUD/USD has surged above 0.6500. Economists at Société Générale analyze the pair’s outlook.
Read more »
RBA Preview: Three scenarios and their implications for AUD/USDEconomists at TD Securities discuss the Reserve Bank of Australia (RBA) Interest Rate Decision and its implications for the AUD/USD pair.
Read more »
AUD/USD consolidates near 0.6500 as focus shifts to RBA policyThe AUD/USD pair juggles in a narrow range near the psychological hurdle of 0.6500 in the early New York session.
Read more »
AUD/USD should benefit significantly if the RBA does raise ratesThe Reserve Bank of Australia (RBA) meets on Tuesday. Economists at Commerzbank analyze Aussie’s outlook ahead of the Interest Rate Decision.
Read more »
AUD/USD moves upward toward a three-month high near 0.6520, RBA decision eyedAUD/USD continues on a four-day winning streak, gearing up for the Reserve Bank of Australia's (RBA) interest rate decision set to be unveiled on Tuesday.
Read more »