The Australian Dollar (AUD)
Key news events today
No major news events.
What can we expect from AUD today?
The AUDUSD traded slightly higher overnight and is currently consolidating at the 0.6740 price level. If the DXY recovers in strength, look for a breakout potential to the downside on the AUDUSD. If the price breaks below the 0.6730 price level, the AUDUSD could trade down to the 0.6700 price level. Beyond the 0.67 price level, the next key support level is at 0.6585.
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
