AUD/USD Outlook (16th July 2019)

• Monetary Policy meeting minutes
  
• AUD/USD testing resistance level
  

Price Movement
Since yesterday, AUD/USD moved up by around 15pips before moving back down by around 15pips.

Trend
Recently, AUD/USD is trending upwards.

Important Issue
This morning, the RBA released the minutes of the Monetary Policy meeting for 2nd July.
In the minutes, the RBA states that “a further easing expected by the end of the year”, indicating that they are expecting another rate cut by the end of 2019.

Technical
AUD/USD is testing the resistance level of 0.70250.

Price Levels
Current Price: 0.70294
Next Resistance: 0.70250
Next Support: 0.68500