The Australian Dollar (AUD)
Key news events today
No major news events.
What can we expect from AUD today?
The AUDUSD saw a significant slide as the price broke the 0.68 round number level to reach the 0.6725 price level. The AUDUSD could continue trading lower, driven down to the 0.60 support level due to further strength in the DXY. However, as the RBA is expected to continue increasing rates, look for a strong retracement to the upside, testing the 0.6760 price level, before a continuation of the downtrend.
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
