Yesterday, the Reserve Bank of Australia (RBA) held interest rates unchanged at 0.25%. The announced that it will be begin to purchase Australian Government Securities (AGS) in the secondary market from today to ensure the consistency of the yield on 3-year bond. In response to the recent resurgence of COVID-19 in Victoria, the RBA highlighted that recovery of the Australian economy will be “uneven and bumpy”.
Currently, AUD/USD is moving towards the of 0.72000 and the next is at 0.69800.
Look for short-term selling opportunities of AUD/USD if it bounces off the of 0.72000.