AUD/USD Outlook (21st May 2019)

• Labor condition to determine fate of cash rate
  

Price Movement
Since yesterday, AUD/USD has been moving within a 30pips range.

Trend
AUD/USD is trending downwards.

Important Issue
In the Minutes of the Monetary Policy Meeting released this morning, the RBA states that:
"members considered the scenario where there was no further improvement in the labour market in the period ahead, recognising that in those circumstances a decrease in the cash rate would likely be appropriate."

Technical
AUD/USD is moving between the resistance level of 0.69573 and support level of 0.68550.

Price Levels
Current Price: 0.69136
Next Resistance: 0.69573
Next Support: 0.68550