AUD/USD Outlook (19 November 2019)
Overall, AUD/USD is ranging across. Recently, AUD/USD trended lower after the release of the dovish monetary policy meeting minutes by the Reserve Bank of Australia (RBA).
Although the RBA kept interest rate unchanged earlier this month, they “agreed that a case could be made to ease monetary policy at this meeting”. The minutes also stated that the RBA is prepared to “ease monetary policy further if needed to support sustainable growth in the economy, full employment and the achievement of the inflation target over time”.
Currently, AUD/USD is testing the key level of 0.68. AUD/USD‘s next support level is at 0.67000 and the next resistance level is at 0.69000.
Look for selling opportunities of the AUD/USD after it break the key level of 0.68 downwards.
Although the RBA kept interest rate unchanged earlier this month, they “agreed that a case could be made to ease monetary policy at this meeting”. The minutes also stated that the RBA is prepared to “ease monetary policy further if needed to support sustainable growth in the economy, full employment and the achievement of the inflation target over time”.
Currently, AUD/USD is testing the key level of 0.68. AUD/USD‘s next support level is at 0.67000 and the next resistance level is at 0.69000.
Look for selling opportunities of the AUD/USD after it break the key level of 0.68 downwards.