Overall, AUD/USD have been trending upwards. Recently, AUD/USD consolidating at the resistance zone of 0.7500.
The Reserve Bank of Australia rate decision to be released on Tuesday (5th April), with expectation for no rate increase at this meeting. However, with Australian economy picking up, rate increases is expected for later in the year.
With a bullish pennant pattern forming, look for short term buying opportunities of AUD/USD if it breaks above the resistance level of 0.7500. Next resistance zone is at 0.7650.
The Reserve Bank of Australia rate decision to be released on Tuesday (5th April), with expectation for no rate increase at this meeting. However, with Australian economy picking up, rate increases is expected for later in the year.
With a bullish pennant pattern forming, look for short term buying opportunities of AUD/USD if it breaks above the resistance level of 0.7500. Next resistance zone is at 0.7650.
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