The Australian Dollar (AUD) has struggled against the US Dollar (USD) since Wednesday’s CPI y/y read. Yearly inflation printed at 2.4% vs 2.5% expected in February sending the AUD to 0.6280 at the close. Markets are anticipating the RBA to keep interest rates on hold later today at 4.10% following a 25-point cut in February. Assistant governor Hunter confirming recently the bank’s conservative approach and cautious stance on further cuts. The AUD has sunk to 0.6220 in overnight trading but has recovered to 0.6250 in morning trade.
Current Level: 0.6241
Resistance: 0.6400
Support: 0.6200
Last Weeks Range: 0.6267- 0.6329