AUD/USD Outlook (03 February 2020)
Overall, AUD/USD is trending downwards. Recently, AUD/USD trended lower into the support level of 0.66800.
The Reserve Bank of Australia (RBA) will be announcing their interest rate decision tomorrow at 1130 (SGT).
With the positive economic data releases from last month, it is expected that the RBA will be holding interest rate unchanged at 0.75%.
Since China is the largest importer of Australian goods, take note of any remarks by the RBA on how the recent coronavirus can affect the Chinese economy.
Currently, AUD/USD is testing the support level of 0.66800 and the next resistance level is at 0.68500.
Stay out of AUD/USD for now.
The Reserve Bank of Australia (RBA) will be announcing their interest rate decision tomorrow at 1130 (SGT).
With the positive economic data releases from last month, it is expected that the RBA will be holding interest rate unchanged at 0.75%.
Since China is the largest importer of Australian goods, take note of any remarks by the RBA on how the recent coronavirus can affect the Chinese economy.
Currently, AUD/USD is testing the support level of 0.66800 and the next resistance level is at 0.68500.
Stay out of AUD/USD for now.