Overall, AUD/USD is ranging across. Recently, AUD/USD’s downtrend has stagnated ahead of the RBA interest rate decision tomorrow at 1230 (SGT).
It is expected that the RBA will be cutting interest rates from 1.00% to 0.75%.
Recently, RBA Governor Lowe expressed optimism in the Australian economy when he said that it is at a “gentle turning point”.
If the RBA cuts interest rates, look into the rate statement for their views on the Australian economy to determine if the rate cut is a hawkish or dovish cut.
The building approvals data will also be released at 0930 (SGT).
AUD/USD’s next support level is at 0.67000 and the next resistance level is at 0.68800.
It is expected that the RBA will be cutting interest rates from 1.00% to 0.75%.
Recently, RBA Governor Lowe expressed optimism in the Australian economy when he said that it is at a “gentle turning point”.
If the RBA cuts interest rates, look into the rate statement for their views on the Australian economy to determine if the rate cut is a hawkish or dovish cut.
The building approvals data will also be released at 0930 (SGT).
- Building Approvals m/m (Forecast: 2.1%, Previous -9.7%)
AUD/USD’s next support level is at 0.67000 and the next resistance level is at 0.68800.