- Outlook AUD / USD suggests the Dovish State of the Australia Bank.
- Participants in the market prices are 60% chance that another price has been reduced in July.
- Merchants awaiting voting in the US at Trump Tax Reductions.
Outlook AUD / USD suggests the Australia Spare Bank, which could mean more price reduction in the coming months and weaker Aussie. At the same time, market participants are on the edge before voting on trumps.
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The Australia Reserve Bank reduced the borrowing costs by 25-BPS and took over the wind tone. In the previous meeting, policy makers decreased the rates, but they have claimed caution. However, this time they noticed the economic uncertainty made by Trump Tariffs. At the same time, inflation in Australia cooled down. Therefore, nothing holds RBA back. The market participants moved to the price of 60% chance that another cut is in July.
On the other hand, the dollar paused its prior decline in the session. However, Tuesday took place because market participants were waiting for voting in the United States at Trump tax cuts. The dollar failed on the previous session after Moody reduced the U.S. Government’s credit rating.
Otherwise, fed policy makers remain cautious in reducing speed, waiting for more traces on the influence of Trump tariffs. This week, traders will focus on data on business activity that will show the state of the economy. Padua numbers could press the pressure on the Fed to reduce interest rates.
AUD / USD Key events Today
After the meeting of RBA, market participants do not expect any key issues from Australia or the United States.
AUD / USD Technical Outlook: Choppy Price Price
On the technical page, the price of AUD / USD trades in the range between support from 0.6375 and resilience at 0.6500. Within this range, the price is cut through 30 SMA without a clear direction. At the same time, the RSI cut over 50 years, which indicates almost equal momentum for bulls and bears.
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Currently, the price trades below SMA with RSI under 50, a sign that bears can soon re-set the channel support. Pause below support would signal the bear shift of feelings, probably starting a new trend. This would also allow AUD / USD to reset the level of support from 0.6250.
However, if the range support holds the company, the bulls will re-establish that the range resistance, and consolidation can continue.
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