Price Movement Since yesterday, AUD/USD has been moving indecisively within a 40pips range.
Trend Recently, AUD/USD has been ranging upwards.
Important Issue Yesterday during an interview with Bloomberg, Federal Reserve Bank of St. Louis President James Bullard highlighted that an insurance Fed rate cut now may be necessary as inflation target has been running below target. He also mentioned that a 50 basis point (0.50%) rate cut would be “overdone” whereas a 25 basis point (0.25%) rate cut seems more appropriate.
Technical AUD/USD is slowly moving towards the 0.70 key level.
Price Levels Current Price: 0.69696 Next Resistance: 0.70250 Next Support: 0.68500