The Australian Dollar (AUD)
Key news events today
AUD RBA Gov Lowe Speaks
What can we expect from AUD today?
The AUDUSD rejected the 0.70 round number resistance level to trade significantly lower, driven lower by the strength of the DXY. As the AUDUSD breaks out of the previous consolidation and below the 0.6950 price level, look for a continuation of the downside. With the AUDUSD currently trading at the 0.6945 price level, look for the price to trade down to the 0.69 price level, and beyond that, the next key support level is at 0.6750.
Central Bank Notes:
Cash rate stands at 3.35%
Future rate rises are expected as RBA targets the 2-3% inflation target.
Next meeting on 7 March 2023
Next 24 Hours Bias
Weak Bearish
