9.24 FPG Australian dollar trend analysis

AUDUSD H4

Today there will be an interest rate decision by the RBA and a speech by the RBA Governor, as the central bank that has not adjusted its interest rates most recently in the world, the widening interest rate differential has provided more support for the Australian dollar. The Australian dollar also hit near the yearly high of 0.685 yesterday. The market is expecting the interest rate decision to remain unchanged today, but more focus will be on the post-meeting comments. Previously, the RBA has been hawkish, stating no expectation of rate cuts in the near future. If the post-meeting comments soften the previous hawkish statements, it could lead to downward pressure on the Australian dollar. If the RBA continues to reaffirm its hawkish stance, and tomorrow's CPI inflation data continues to show resilience in not decreasing, there is a possibility of the Australian dollar continuing to rise.

From a technical perspective, the australian dollar's high points in December last year at 0.687, as well as in June and July at 0.690, show clear resistance. There is limited upward space, so beware of a top reversal. The australian dollar is short-term strong, achieving a 3.5% increase in just two weeks, with support from upward trendlines below. Speeches after the interest rate decisions in the next two days and the release of CPI data will have a significant impact on the australian dollar in the short term. Be cautious about chasing long positions and beware of pullbacks.

The first resistance level above is at 0.684, the second at 0.685, and the third at 0.687.

The first support level below is at 0.682, the second at 0.680, and the third at 0.679.

# This advice is only general advice and does not take into account your specific financial situation and needs. Investment involves risks, so please evaluate carefully. #