AUD/USD

February 06, 2019

AUD/USD: The Australian dollar slumped to a 1-week low after Reserve Bank of Australia Governor chief Philip Lowe opened the door to a possible rate cut after more than a year of signalling tighter future policy. The Aussie trades 1.2 percent down at 0.7145, having hit a low of 0.7143 earlier; it’s lowest since January 29. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7115 (Jan. 22 Low), a break below targets 0.7076 (Jan. 25 Low). On the upside, resistance is located at 0.7272 (January 30 High), a break above could take it near 0.7327 (November 28 High).

AUD/USD daily chart

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