AUD/USD Price Analysis: Teases 0.7360-65 hurdle on RBA Minutes, focus on Gov. Lowe’s speech

AUD/USD stays sidelined as RBA Minutes reiterate no fee hike till 2024.
Convergence of 100, 50-DMA defend immediately upside, bears want validation from 61.8% Fibonacci retracement.
Bearish MACD signals, descending Momentum line maintain agents hopeful.
AUD/USD selections up bids to refresh intraday pinnacle round 0.7355, up 0.13% on a day, following the releases of the RBA Meeting Minutes throughout Tuesday’s Asian session. That said, merchants look ahead to RBA Governor Philip Lowe’s speech, round 02:30 AM GMT, for sparkling clues.

Read: RBA Minutes: Prepared to be affected person till wage and inflation objectives are met

Even so, the quote stays under the 100-DMA and 50-DMA confluence close to 0.7360-65 with the bearish MACD alerts and downward sloping Momentum line teasing the sellers.

The anticipated pullback strikes can also firstly take a look at the 50% Fibonacci retracement (Fibo.) degree of August-October upside, round 0.7330, earlier than difficult the latest swing lows round 61.8% Fibo. degree of 0.7277.

While the 0.7300 threshold will provide an intermediate halt in the course of the fall, September’s low surrounding 0.7170 can please the AUD/USD bears previous 0.7277.

Meanwhile, a day by day closing past the 0.7365 hurdle ought to propel the quote in the direction of a convergence of the October 22 low and 23.6% Fibonacci retracement degree close to 0.7450.

Following that, September’s excessive of 0.7478 and the 0.7500 spherical parent can undertaking the AUD/USD bulls earlier than directing them to the preceding month’s pinnacle of 0.7557.


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