AUD/USD Transfer

ByDragana My Engine Lab

The Australian Dollar has steadily lost ground against the reserve currency. The lack of a trade agreement with the USA, will ensure further instability. The AUD surrendered 0.6400, by the end of the last trading week, but a weaker reserve to open the week has allowed a recovery. The RBA is likely to resume interest rate cuts, following the election, but they still operate at a healthy premium.

Current Level: 0.6420
Resistance: 0.6600
Support: 0.6300
Last Weeks Range: 0.6360- 0.6500

 

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