What technical ranges are in play for the AUDUSD by way of the RBA fee minimize within the new day?

The Reserve Financial institution of Australia (RBA) is about to chop rates of interest for the primary time in 4 years when it pronounces its choice later at the moment at 10:30 PM ET. The benchmark fee has remained at four.35% for 10 consecutive conferences, and with inflation easing, the RBA is now positioned to start a rate-cutting cycle.

Regardless of expectations of a minimize, AUDUSD has risen for 2 consecutive weeks after bottoming at zero.60875, its lowest degree since April 2020. Whereas the pair has gained, it nonetheless trades close to five-year lows, leaving room for additional upside regardless of the anticipated fee discount.

Key Technical Ranges to Watch

• Assist Ranges:

  • zero.6334 – Staying above this degree retains the short-term bullish bias intact and will enable patrons to push larger.
  • zero.6287–zero.6301 – If the worth breaks under zero.6334 however finds assist right here, patrons stay in play. Nonetheless, a deeper drop may strengthen sellers’ management.
  • Beneath zero.6287 – Count on elevated draw back momentum if this degree is breached.

• Resistance Ranges:

  • zero.64139 (38.2% retracement) – A break above this degree may shift focus towards larger targets.
  • zero.64419 (100-day transferring common) – This can be a main bullish set off, as AUDUSD has not traded above its 100-day MA since October 2024. A sustained transfer above would reinforce bullish sentiment from a technical standpoint.

Merchants will probably be carefully watching whether or not patrons can preserve management above key assist ranges to maintain the latest upside momentum or if sellers make the most of a dovish RBA choice to push AUDUSD decrease.

This text was written by Emma Wang at www.ubaidahsan.com.



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