AUD/USD Outlook (1st October 2019)
Overall, AUD/USD is ranging across. Recently, AUD/USD has been trending downwards strongly due to the RBA’s decision to cut interest rates from 1.00% to 0.75%.
The RBA said in the rate statement that their decision to lower interest rate today is to “support employment and income growth and to provide greater confidence that inflation will be consistent with the medium-term target.”
They are also prepared to “ease monetary policy further” if necessary.
The building approvals data released was worse than forecasted.
Currently, AUD/USD is testing the support level of 0.67000 and the next resistance level is at 0.68800.
The RBA said in the rate statement that their decision to lower interest rate today is to “support employment and income growth and to provide greater confidence that inflation will be consistent with the medium-term target.”
They are also prepared to “ease monetary policy further” if necessary.
The building approvals data released was worse than forecasted.
- Building Approvals m/m (Actual: -1.1%, Forecast: 2.1%, Previous -9.7%)
Currently, AUD/USD is testing the support level of 0.67000 and the next resistance level is at 0.68800.