AUD/USD Outlook (6th March 2019)

• AUD/USD testing support level
  
• Pessimism in rate hike
  

Price Movement
Since yesterday, AUD/USD has been moving indecisively.

Trend
AUD/USD is currently trending downwards.

Important Issue
This morning during a speech at the Australian Financial Review's Business Summit at 0610 (SGT), Royal Bank of Australia Governor Lowe commented that "It's hard to think of a scenario where interest rates would need to go up this year".

Technical
AUD/USD is currently testing the 0.70700 support level.

Price Levels
Current Price: 0.70604
Next Resistance: 0.71800
Next Support: 0.70700