Overall, AUD/USD is trending upwards. Recently, AUD/USD moved lower into the support level of 0.64200.
The Australian Trade Balance data (Actual: 10.6B, Forecast: 6.40B, Previous: 4.36B) released earlier today indicated that Australia is having a trade surplus.
Earlier today, China surprised the market by releasing a trade surplus figure that was bigger than forecasted, indicating that exports rose in April despite the COVID-19 pandemic.
The Reserve Bank of Australia (RBA) will be releasing its Monetary Policy Statement tomorrow at 0930 (SGT).
Currently, AUD/USD is testing the support level of 0.64200 and the next resistance level is at 0.65500.
Look for buying opportunities of AUD/USD if it bounces off the support level of 0.64200.
The Australian Trade Balance data (Actual: 10.6B, Forecast: 6.40B, Previous: 4.36B) released earlier today indicated that Australia is having a trade surplus.
Earlier today, China surprised the market by releasing a trade surplus figure that was bigger than forecasted, indicating that exports rose in April despite the COVID-19 pandemic.
The Reserve Bank of Australia (RBA) will be releasing its Monetary Policy Statement tomorrow at 0930 (SGT).
Currently, AUD/USD is testing the support level of 0.64200 and the next resistance level is at 0.65500.
Look for buying opportunities of AUD/USD if it bounces off the support level of 0.64200.