The AUD Doesn’t Fire a Shot on RBA Minutes: Damage is Done

Last week I was talking about how strong the 79 handle was and now we are down testing 77.

Rowan Crosby•Tuesday, March 20, 2018•1 min read

Last week I was talking about how strong the 79 handle was and now we are down testing 77.

Today the RBA minutes came out and there was a pretty muted response. If any in truth. We heard the same headlines once again about how a high dollar would hurt the economy.

They also mentioned how low interest rates are helping the economy, employment and boosting inflation.

That’s really the way they want things at the moment and by the sounds all is good. Of course, we can’t have low interest rates forever and as we might just see today the US is already getting ready to fire things up on that front.

Key Levels

I’ve been talking about the 0.7650 level for some time and that still remains my downside target.

I suspect we will break 0.7700 and make the move to the next major support level very soon. My only fear is the FOMC which might actually see the USD fall despite a hike, as the change is already factored into the market.

AUD

AUD/USD – 240 min Chart.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Open a FREE Trading Account

ABOUT THE AUTHOR See More

Rowan Crosby

Asia-Pacific Analyst

Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.