- Hawish cut?
- AUD/USD testing key level
Price Movement
Since yesterday, AUD/USD moved up by around 35pips.
Trend
AUD/USD is trending upwards.
Important Issue
Yesterday, during a speech at RBA Board Dinner, RBA Governor Philip Lowe explained that the rate cut decision was made to "support employment growth" and to "provide greater confidence that inflation will be consistent with the medium-term target".
He also stressed that the RBA's rate cut decision "is not in response to a deterioration in our economic outlook since the previous update was published in early May".
Technical
AUD/USD is testing the 0.70 key level.
Price Levels
Current Price: 0.70009
Next Resistance: 0.70250
Next Support: 0.68800