Overall, AUD/USD is moving on a downtrend. Recently, AUD/USD has been ranging below the key level of 0.68.
The RBA released their Monetary Policy meeting minutes for the August meeting this morning. In the minutes, the RBA mentioned that it is “reasonable to expect that an extended period of low interest rates would be required in Australia to make sustained progress towards full employment and achieve more assured progress towards the inflation target.” The RBA will also consider further easing of monetary policy if additional evidence suggests a need to do so.
AUD/USD is currently testing to break the key level of 0.68 upwards. Its next support level is at 0.67000 and the next resistance level is at 0.68800.