AUDUSD
Technical Analysis
AUDUSD have big potential to sell around 0.66792-0.6850. This particular area have big resistance or rejection from the previous level higher time frame, it means lots of buyers took profit and sellers decided to involve in. Based on volume indicator the momentum for buyer is weakening. Target price at 0.66465 and stoploss area 0.66950
Fundamental Analysis
The Reserve Bank of Australia (RBA) announced on July 4, 2023 that it would keep the cash rate target at 4.10%. This was the expected decision, as most economists had predicted that the RBA would hold rates steady at this meeting.
The RBA's decision was based on a number of factors, including the recent decline in inflation and the ongoing strength of the Australian economy. Inflation in Australia has been falling since peaking at 7.0% in the March quarter of 2023. In the May quarter, inflation was 5.6%, and the RBA expects it to continue to fall in the coming months.
DISCLAIMER:The information on this analysis is based on research and experience, and it is not guaranteed to be accurate or complete
