Further Upside for the AUDUSD
The RBA surprised markets by hiking rates 25bps, taking interest rates in Australia to 4.1%.
This decision saw the AUDUSD rise steadily from the 0.66 price level up toward the 0.67 resistance level.
As the price maintains above the bullish ichimoku cloud and the 200MA signals further upside potential, look for the AUDUSD to break above the 0.67 resistance level to trade up toward the next resistance and round number level of 0.68.
This move higher would need to be supported by further weakness in the DXY (checkout DXY analysis in the link)
This decision saw the AUDUSD rise steadily from the 0.66 price level up toward the 0.67 resistance level.
As the price maintains above the bullish ichimoku cloud and the 200MA signals further upside potential, look for the AUDUSD to break above the 0.67 resistance level to trade up toward the next resistance and round number level of 0.68.
This move higher would need to be supported by further weakness in the DXY (checkout DXY analysis in the link)
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