AUD/USD Outlook (18 April 2022)
AUD/USD still in a downtrend, briefly testing and rejecting 0.7500 on 12th April
Currently at 0.7361, look for further selling opportunities, following trend to the downside, towards 0.7300
With RBA meeting minutes to be released on Tuesday morning and recent RBA decision to hold cash rate at 0.10%, focus on the meeting minutes will be to look for hints regarding timeline for future rate increases.
From the previous statement, RBA indicated that "policies have supported progress towards the objectives of full employment and inflation consistent with the target."
Below 0.7300, next support level is 0.7100
Currently at 0.7361, look for further selling opportunities, following trend to the downside, towards 0.7300
With RBA meeting minutes to be released on Tuesday morning and recent RBA decision to hold cash rate at 0.10%, focus on the meeting minutes will be to look for hints regarding timeline for future rate increases.
From the previous statement, RBA indicated that "policies have supported progress towards the objectives of full employment and inflation consistent with the target."
Below 0.7300, next support level is 0.7100