AUD/USD, H4 20 March 2024
The AUD/USD pair remains under pressure, approaching its lowest level in March. Following the
Reserve Bank of Australia's (RBA) interest rate decision, which met market expectations by
maintaining rates at 4.35%, the Australian dollar experienced further weakness. This was
exacerbated by comments from the RBA governor indicating that the central bank has concluded its monetary tightening program. Such a dovish tone from the Antipodean central bank contributed to the decline in the Australian dollar.
The AUD/USD pair recorded a minor rebound after a significant plunge yesterday. Suggesting that the bearish momentum remains strong.
Resistance level:0.6576, 0.6617📉
Support level: 0.6484, 0.6450📈
The AUD/USD pair remains under pressure, approaching its lowest level in March. Following the
Reserve Bank of Australia's (RBA) interest rate decision, which met market expectations by
maintaining rates at 4.35%, the Australian dollar experienced further weakness. This was
exacerbated by comments from the RBA governor indicating that the central bank has concluded its monetary tightening program. Such a dovish tone from the Antipodean central bank contributed to the decline in the Australian dollar.
The AUD/USD pair recorded a minor rebound after a significant plunge yesterday. Suggesting that the bearish momentum remains strong.
Resistance level:0.6576, 0.6617📉
Support level: 0.6484, 0.6450📈