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AUDUSD - Settles Around 0.6750 after RBA Pause on Rates

 

 
In the last week or so the AUDUSD has rested on a new support level at 0.6750 even though it fell through down to a 2019 low below 0.67 a few days ago. In the two weeks prior, the AUDUSD fell sharply from above 0.7050 down to the support level at 0.6850 before continuing to decline down to 0.6750. Having provided solid support over the last three months, the 0.6850 level may now offer some resistance should the AUDUSD rally.
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Reserve Bank of Australia (RBA) Interest Rate Decision

Today at 5:30am UK time. RBA Interest Rate Decision is one of the key instruments of the national monetary and credit policy, and the releases contain announcements of interest rate and explanations to the bank's decision. F:1%, P:1%. #AUDUSD may test 0.6850.  

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AUDUSD - Eyes off Support at 0.6850 as RBA Commits to Low Interest Rates

 

 
In the last week the AUDUSD has fallen sharply from above 0.7050 down to a five week low near 0.69, as it has its eyes firmly on the solid support level at 0.6850. It was only a week earlier that the AUDUSD surged strongly back up to the current key level of 0.7050 as it then looked poised to threaten this level and possibly move higher. Two weeks earlier it tested the level as it reached a seven week high on the back of a steady climb higher over three weeks as it moved from support at 0.6850. This level has helped prop up the currency pair twice in the last two months and is close to being called upon again to support the AUDUSD.
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AUDUSD - Pushes up to Resistance at 0.7050 Ahead of RBA Minutes

 

 
In the last week the AUDUSD has surged strongly back up to the current key level of 0.7050 as it looks poised to threaten this level again and possibly move higher. Only two weeks ago it tested the level as it reached a seven week high on the back of a steady climb higher over three weeks as it moved from support at 0.6850. This level has helped prop up the currency pair twice in the last two months.
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AUDUSD - Drops Back Below 0.70 as RBA Expected to Cut Rates Again Today

 

 
In the last two days the AUDUSD has dropped sharply back below 0.70 after reaching a seven week high near the key 0.7050 level. It did however enjoy a solid surge higher in the last couple of weeks when it bounced strongly off support at 0.6850 which has helped prop up the currency pair twice in the last two months. This was a solid reversal from the week prior which saw it drop sharply to its lowest levels for 2019 pushing through any support around 0.6850 for a short period of time.
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Reserve Bank of Australia (RBA) Interest Rate Decision

Today at 4:30am UK time. RBA Interest Rate Decision is one of the key instruments of the national monetary and credit policy, and board members hold regular meetings after which the bank publishes press releases. F:1.25%, P:1.25%. #AUDUSD may test 0.70.

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AUDUSD - Drops to 2019 Low Below 0.6850 as Consumer Confidence Tumbles

 

 
In the last week or so the AUDUSD has dropped sharply to its lowest levels for 2019 pushing through any support that may have been present around 0.6850. It had enjoyed a solid few weeks rallying higher to a three week high poking its head just above 0.70, however it has now returned all of those gains and looks poised for further falls below 0.6850. It had been content to trade in a narrow range with some support from 0.69 after having declined to a four month low around 0.6865 a few weeks ago.
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AUDUSD - Rallies to 0.70 after RBA Cuts to Record Low 1.25%

 

 
The AUDUSD has enjoyed the last few days rallying higher to a three week high poking its head just above 0.70. It had been content to trade in a narrow range with some support from 0.69 after after having declined to a four month low around 0.6865 a few weeks ago. The key 0.7050 level which ably supported the currency pair and more recently has provided resistance is likely to play a role again should prices rally a little more.
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Reserve Bank of Australia (RBA) Interest Rate Decision

Today at 4:30am UK time. The RBA interest rate decision is one of the key instruments of the national monetary and credit policy. RBA board members hold regular meetings after which the bank publishes press releases. F:1.25%, P:1.5%. #AUDUSD may drop below 0.69.

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AUDUSD - At Four Month Low Around 0.69 after Federal Election

 

 
Despite rallying a little in the last couple of days, the AUDUSD has continued to decline over the last month moving to a four month low around 0.6865 before the recent rally. The key 0.7050 level which ably supported the currency pair and more recently has provided resistance is likely to play a role again should prices return. Despite several attempts, the AUDUSD has been unable to move back above this level as it is now offering resistance and preventing it from returning to its range above 0.7050.
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