📊TECHNICAL ANALYSIS ON 24-HOURS TIMEFRAME
AUDUSD has consolidated on its lows for around a month and finally, last week, broke up strongly. The pair reached 0.65 important resistance on Friday's NFP and now there is a possibility of a retracement. This drop could represent a good opportunity for bulls and 0.6430-0.6450 is the buy zone. A new test of 0.65 after the correction could lead to a break and 0.66 resistance could be the target. In the longer term, 0.68 is not out of the question
📊QUICK FUNDAMENTAL LOOK
The Australian dollar was subdued around $0.651 on Monday as investors turned cautious ahead of the Reserve Bank of Australia’s policy decision. The central bank is widely expected to raise its policy rate by 25 basis points on Tuesday amid persistent inflationary pressures and a robust economy.
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