Aussie tested the 0.7555 resistance level and could break beyond it with the RBA ReserveBankOfAustralia AUD AUDUSD $AUD $AUDUSD
The Reserve Bank of Australia will announce its decision on monetary policy on Tuesday.peaked at 0.7555, a fresh 2022 high and matching October 2021 monthly top. The aussie outperformed its major counterparts against the dollar, as most major pairs held within familiar levels, but AUD/USD added roughly 80 pips on a daily basis. The positive tone of Wall Street, despite mostly modest gains, could have helped the pair.
The central bank is widely anticipated to maintain the cash rate on hold at 0.1%. Overall, market players are expecting policymakers to maintain their cautious stance amid the Eastern Europe crisis and the upcoming Federal election in the country. Most analysts expect the central bank to start normalizing the monetary policy by August, although keeping in mind that the RBA will probably move slowly.The AUD/USD pair holds on to most of its Monday’s gains, trading around 0.
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