The AUDUSD pair will likely have a bearish breakout as bears target the next key support level at 0.6380. forexsignals TradingSignals forexmarket
The AUD/USD price moved sideways on Tuesday and Wednesday morning as the market reflected on the latest interest rate decision by the Reserve Bank of Australia .Trade AUD/USD NowThe RBA concluded its two-day meeting on Tuesday and delivered its verdict. It continued with its tightening process, albeit at a slower pace than expected.
Analysts now expect that the bank will continue slowing its rate hike plan as it faces the tough balancing act between slowing inflation and preventing a recession. Most economists now expect that the bank will hike rates to 3.0% by end of the year, down from the previous estimate of 3.3%.
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