Last week the AUD/USD pair was trading within the sideways channel and slightly grew. The Reserve Bank of Australia didn’t increase the interest rate and kept it on the level of 1.5%. The officials expect the steady economy growth in the next few years and connect the low interest rate with the GDP growth.
Today the traders should pay attention to US Monthly Budget Statement publication, which summarizes the financial activities of federal entities and Federal Reserve banks.
Support and resistance
On the daily chart the pair is moving sideways within the channel, formed by the middle line and the lower border of Bollinger Bands. MACD histogram is in the negative zone, keeping sell signal.