The AUD has slipped back below 0.6800, as a resurgent reserve takes the shine off the currency recovery. Commodity prices have been slowly improving and the stubborn position of the RBA has also supported a rise in the AUD. This week will see the release of the Australian GDP growth number, on Wednesday the 4th of September. This is expected to be around 1%, so positive, but weak. The weaker economy and stubborn inflation catches the RBA ‘between a rock and a hard place’.
Current Level: 0.6785
Resistance: 0.6830
Support: 0.6600
Last Weeks Range: 0.6751- 0.6821