The Australian Dollar (AUD)
Key news events today
No major news events.
What can we expect from AUD today?
The AUDUSD continued its slide to the downside, reaching the 0.68 round number support level overnight. However, the price failed to break the support and bounced to retrace briefly. Currently trading at the 0.6830 price area, the AUDUSD could continue to trade slightly higher to the 0.6850 price level before continuing with the downtrend again. If the AUDUSD breaks below 0.68, the next key support level is at 0.6660.
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
