AUDUSD bears take a breather after bouncing off a two-month-old horizontal support area, inside a broad bearish channel from early May, as traders await the Reserve Bank of Australia’s (RBA) verdict. Although the Aussie central bank is up for another 0.5% rate hike, the fears of economic slowdown due to the trade links with China appear to tease the sellers. That...
AUDUSD bulls cheer the Reserve Bank of Australia’s (RBA) 25 basis points (bps) rate hike in early Tuesday. The recovery moves also justify the RSI rebound from oversold territory, as well as pierce a downward sloping resistance line from April 21, near 0.7100 by the press time. Considering the RBA’s hawkish moves, backed by firmer technicals, the Aussie pair is...
