Overall, AUD/USD is trending downwards. Recently, AUD/USD bounced up from the key level of 0.70.
The Reserve Bank of Australia (RBA) will be announcing their monetary policy decision later at 1130 (GMT+8). It is expected that the central bank will be keeping monetary policy unchanged. Nonetheless, pay attention to how the RBA will communicate on the February 2022 evaluation of QE tapering amid the newly discovered COVID variant Omicron. Any signs of pessimism may likely lead to a weakening of AUD/USD.
AUD/USD’s next support zone is at 0.68200 and the next resistance zone is at 0.71000.
If the RBA sends out a pessimistic tone, look for short-term selling opportunities of AUD/USD.
The Reserve Bank of Australia (RBA) will be announcing their monetary policy decision later at 1130 (GMT+8). It is expected that the central bank will be keeping monetary policy unchanged. Nonetheless, pay attention to how the RBA will communicate on the February 2022 evaluation of QE tapering amid the newly discovered COVID variant Omicron. Any signs of pessimism may likely lead to a weakening of AUD/USD.
AUD/USD’s next support zone is at 0.68200 and the next resistance zone is at 0.71000.
If the RBA sends out a pessimistic tone, look for short-term selling opportunities of AUD/USD.