AUD/USD, H4 20 March 2024
The AUD/USD pair remains under pressure, approaching its lowest level in March. Following the
Reserve Bank of Australia's (RBA) interest rate decision, which met market expectations by
maintaining rates at 4.35%, the Australian dollar experienced further weakness. This was
exacerbated by comments from the RBA governor indicating that the central bank has concluded its monetary tightening program. Such a dovish tone from the Antipodean central bank contributed to the decline in the Australian dollar.
The AUD/USD pair recorded a minor rebound after a significant plunge yesterday. Suggesting that the bearish momentum remains strong.
Resistance level:0.6576, 0.6617📉
Support level: 0.6484, 0.6450📈
The AUD/USD pair remains under pressure, approaching its lowest level in March. Following the
Reserve Bank of Australia's (RBA) interest rate decision, which met market expectations by
maintaining rates at 4.35%, the Australian dollar experienced further weakness. This was
exacerbated by comments from the RBA governor indicating that the central bank has concluded its monetary tightening program. Such a dovish tone from the Antipodean central bank contributed to the decline in the Australian dollar.
The AUD/USD pair recorded a minor rebound after a significant plunge yesterday. Suggesting that the bearish momentum remains strong.
Resistance level:0.6576, 0.6617📉
Support level: 0.6484, 0.6450📈
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.