Overall, AUD/USD have been trending upwards. Following the RBA rate decision and statement, the AUD/USD rose significantly.
The Reserve Bank of Australia rate decision to be released on Tuesday (5th April), indicated:
- Unemployment rate to fall to below 4 per cent this year and to remain below 4 per cent next year.
- Inflation has increased in Australia, but it remains lower than in many other countries; in underlying terms, inflation is 2.6 per cent and in headline terms it is 3.5 per cent.
-The Board has wanted to see actual evidence that inflation is sustainably within the 2 to 3 per cent target range before it increases interest rates.
These signalled for earlier rate increases possibly in May (previously expected towards the end of the year)
Following the trend, look for buying opportunities of AUD/USD if price continues to break above the resistance zone of 0.76000. Next resistance zone is at 0.78000.
The Reserve Bank of Australia rate decision to be released on Tuesday (5th April), indicated:
- Unemployment rate to fall to below 4 per cent this year and to remain below 4 per cent next year.
- Inflation has increased in Australia, but it remains lower than in many other countries; in underlying terms, inflation is 2.6 per cent and in headline terms it is 3.5 per cent.
-The Board has wanted to see actual evidence that inflation is sustainably within the 2 to 3 per cent target range before it increases interest rates.
These signalled for earlier rate increases possibly in May (previously expected towards the end of the year)
Following the trend, look for buying opportunities of AUD/USD if price continues to break above the resistance zone of 0.76000. Next resistance zone is at 0.78000.