AUD/USD Price Forecast: RBA and Fed Influence on Technical Analysis
Sunday, 6 October 2024, 23:05
Revisiting AUD/USD: The Influence of RBA and Fed
The AUD/USD pair kicks off the new week on a positive note.After breaking a two-day losing streak, there are signs of indecision from bulls as they attempt to maintain momentum.
Technical Analysis Insights
- Recent Price Action: The pair recently stalled its pullback after reaching the highest levels since February 2023.
- Critical Support: Holding above 0.6800 is essential for a sustained bullish trend.
- Market Sentiment: Investor sentiment remains cautious amid ongoing discussions surrounding monetary policies from both the RBA and Fed.
Future Outlook for AUD/USD
- RBA Insights: The Reserve Bank of Australia's decisions continue to shape market expectations.
- Fed's Role: U.S. Federal Reserve policy shifts have direct implications on the AUD/USD exchange rate.
- Investors should monitor: Key economic indicators and central bank announcements closely.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.