8.21 FPG TO AUDUSD MIN

AUDUSD H4

The minutes of the Australian Federal Reserve meeting were released yesterday. The Reserve Bank of Australia sent a signal to extend current interest rates. It also said that if the risk of inflation increases significantly, it is reasonable to raise interest rates immediately; maintaining high interest rates and maintaining inflation can return to the central bank's target level next year. Not only did the whole story not discuss interest rate cuts, but they even discussed the possibility of interest rate hikes, while other major central banks in the world have all begun to relax their monetary policies. Currently, there are only two central banks left, the US and Australia, and the Federal Reserve is almost certain to cut interest rates on September 18. The market is also focusing on the minutes of the US Federal Reserve meeting in the middle of tonight and Powell's speech at the Jackson Hole meeting on Friday. If the two sides have huge differences in their interest rate policy prospects, it may further boost the Australian dollar.

On the technical side, the Australian dollar continued to rise, hitting 0.675. This range is the first position of the highest decline in the year. Currently, the Australian dollar has been overbought in the short term, so beware of a correction slope for price recovery. Looking at the general direction, the Australian dollar remains strong. It is already in the 0.671 position, and beware of a pullback in the short term.

The upper line resistance is 0.675, the second line resistance is 0.676, and the third line resistance is 0.678.

The lower first line supports 0.673, the second line supports 0.671, and the third line supports 0.670.