The Australian Dollar (AUD)
Key news events today
No major news events.
What can we expect from AUD today?
The AUDUSD traded within a narrow 50pip range yesterday, apart from a brief spike lower. Price is likely to continue consolidating along the 0.69 price level with no clear directional bias. However, if the DXY continues to weaken further, look for the AUDUSD to break above the 0.6940 price level to signal the potential for further upside, with the next immediate resistance level at the round number price level of 0.70.
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 Bullish
