AUD/USD – Bullish Outlook Continue With RBA Rate Hike

RBA Rate Hike

AUD/USD (Short Position)

  • Take Profit: 0.6895
  • Stop Loss: 0.7000

AUD/USD (Long Position)

  • Take Profit: 0.7000
  • Stop Loss: 0.6895
  • Timeline: 1 day

The price charts are signalling a bullish trend with MACD and signal lines rising. The Histogram of MACD has also moved above the neutral point and the pair has also moved above the 25-period MA. An analysis using Ichimoku cloud shows that the pair has retested the lower side. The Aussie Dollar pair was also seen moving above the key resistance level of 0.6895. So for technical analysts, the outlook is still very bullish for the pair.

An important news release affecting the pair was the 9th interest rate hike by the Reserve Bank of Australia. The RBA has decided to move forward with a 0.25% hike which makes the current interest rate 3.35%. The RBA Governor also shared their plans to keep tightening the monetary policy with inflation on the rise. The policy will remain the same as long as they don’t see any significant improvement in the inflation rates.

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