AUDUSD
Technical Analysis
AUDUSD have big potential to sell around 0.67813. 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 0.67611
Fundamental Analysis
The Reserve Bank of Australia (RBA) has raised interest rates seven times since May 2022 in an effort to combat inflation, which is currently at a 32-year high of 7.0%. Higher interest rates will make it more expensive for businesses to borrow money, which could lead to slower investment and job growth.
Inflation is also a major concern for the Australian economy. The Consumer Price Index (CPI) rose 5.1% in the year to March 2023, the fastest pace of inflation in 20 years. Higher inflation is putting pressure on household budgets, and could lead to a decline in consumer spending.
DISCLAIMER:The information on this analysis is based on research and experience, and it is not guaranteed to be accurate or complete
