AUD/USD May Rise Following RBA Rate Hold

Australian Dollar, AUD/USD, RBA – Talking Points

  • Reserve Bank of Australia keeps the official cash rate at 0.10%
  • Economic Recovery remains dependent on Covid-19’s path
  • AUD/USD looks to challenge 2020 highs on next rally

**Full Article Coming Soon**

The Reserve Bank of Australia kept its official cash rate unchanged at 0.10% on Tuesday. The rate hold was widely expected following better than expected economic data in recent weeks. Still, the economic outlook remains fragile and susceptible to Covid-19’s path. AUD/USD gyrated to the upside, but price action may remain volatile while traders digest the RBA’s most recent move.

AUD/USD One-Minute Chart

AUDUSD Chrt

Chart created with TradingView

AUD/USD TRADING RESOURCES

— Written by Thomas Westwater, Analyst for DailyFX.com

To contact Thomas, use the comments section below or @FxWestwateron Twitter




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