FX News

AUD/USD Transfer

Today’s RBA cash rate release is the main event this week with the central bank predicted to hold rates at 4.10% for a while longer while they watch closely for economic changes and a reason to resume tightening policy. We don’t expect any real shifts in the Australian Dollar (AUD), US Dollar (USD) over the release. Global risks and inflation still have the cross locked in a downtrend, Friday’s trip to retest the high at 0.6520 was short lived falling back to 0.6460 levels into Tuesday. Tomorrow’s Australian 2nd quarter GDP should print around 0.3%, look for small moves around the release.

Current Level: 0.6455
Support: 0.6350
Resistance: 0.6560
Last week’s range: 0.6399 – 0.6521

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