AUD/USD today

[AUD/USD Today]
The AUD this week continued last week’s strength but has not shown any major price movement.

Yesterday, the price ranged between 0.6428 and 0.64700, with the price once reached the previous week’s highest. The low has shown slightly higher than the previous, with RSI indicating a positive figure above 50.

If RSI remains positive and the price keeps being traded with higher lows, an ascending triangle can be formed and the upward trend might continue.

On the other hand, traders are expecting the decision on interest rates tomorrow from the Fed before placing their bets. Interest rates are speculated to be on hold or go up slightly as inflation data shows only a slight increase. A rising interest rate might lead to a decrease in AUD value, giving a hard time for importers in Australia.

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