The RBA’s pause in interest rate rises, has added to the downward momentum of the currency, along with recessionary pressures hitting commodity demand and prices. This week’s inflation number, out in the USA, will be a big directional driver of the AUD, this coming week. The expected rebound in the post-COVID Chinese economy, has been restrained and the Chinese trade numbers, set to be released Thursday, will have an impact.
Current Level: 0.6805
Resistance: 0.6827
Support: 0.6713
Last Weeks Range: 0.6785-0.6869