AUD/USD Outlook (15 September 2020)
Overall, AUD/USD is ranging across.
In the released minutes for the previous monetary policy meeting, the Reserve Bank of Australia (RBA) highlighted that the economic downturn caused by the COVID-19 pandemic “had not been as severe as earlier expected” and that recovery is in progress in most parts of Australia. However, this recovery will be bumpy due to the recent resurgence in the number of cases in Victoria.
Currently, AUD/USD is testing to break above the key level of 0.73. Its next support zone is at 0.72500 and the next resistance zone is at 0.73800.
Look for buying opportunities of AUD/USD if it breaks above the key level of 0.73.
In the released minutes for the previous monetary policy meeting, the Reserve Bank of Australia (RBA) highlighted that the economic downturn caused by the COVID-19 pandemic “had not been as severe as earlier expected” and that recovery is in progress in most parts of Australia. However, this recovery will be bumpy due to the recent resurgence in the number of cases in Victoria.
Currently, AUD/USD is testing to break above the key level of 0.73. Its next support zone is at 0.72500 and the next resistance zone is at 0.73800.
Look for buying opportunities of AUD/USD if it breaks above the key level of 0.73.
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