The Australian Dollar (AUD)
Key news events today
No major news events.
What can we expect from AUD today?
The downward pressure continues for the AUDUSD as the price traded lower strongly, breaking below the round number support level of 0.68. If the DXY continues to strengthen, this could see the AUDUSD continue the downtrend and trade significantly lower. Anticipate significantly choppy price action, however, if the price breaks below the 0.6750 price level, 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
