AUD/USD Trades Near Years High After RBA Decision
Today, the Reserve Bank of Australia (RBA) eased monetary policy, cutting the interest rate from 4.35% to 4.10%, according to Forex Factory.
As reported by Reuters:
This marks the first easing since the 2020 pandemic;
RBA Governor Michele Bullock stated that market expectations for two more cuts this year are ambitious;
The banks leadership remains cautious about further easing prospects.
While analysts had accurately predicted the February rate cut, AUD/USD saw volatility without a significant move, possibly because market participants are more focused on Trumps tariff plans, which could impact global trade and Forex markets.
Technical Analysis of AUD/USD Today
Since mid-December, the AUD/USD pair has mostly traded within the 0.62000.6300 range, except for early Februarys sharp drop when Trumps tariff policies shook currency markets.
However, demand appears resilient:
After plunging to around 0.6100, the price quickly rebounded into the range;
Arrows highlight rapid recoveries after short-term dips;
A blue ascending trend channel is forming on the chart.
These factors suggest growing appeal for the Australian dollar, with the 0.6300 level potentially acting as support going forward.
Read more: https://fxopen.com/blog/en/oa-aud-usd-trades-near-years-high-after-rba-decision/
Text source: Forex Trading Blog
