Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

AUD/USD Stays In A Downtrend

Published 05/03/2022, 03:54 AM
Updated 07/09/2023, 06:31 AM

The RBA is finally turning hawkish, raising the rate more than expected to 0.35%, with more hikes in view for the upcoming months. So it seems like policy is changing here, all to fight the inflation, which could be supportive for the Aussie going ahead.

Technically, however, we do not see a bullish trend yet. Looking at the intraday chart, that's only a fourth wave rally right now, which may stop around 0.7180-0.7230 resistance, so be aware of another leg down before the pair can bottom.

Ideally, AUD/USD will find the base and turn up in the second half of this year when stocks may also come up from the support and when China is back to everyday life. For now, covid is still an issue there, impacting the economy, which is also one of the reasons for weak Aussie over the last few months.

AUD/USD 4-hour chart technical analysis.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.