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Aussie dollarThe RBA is due to announce the central bank’s decision on rates later today at 12.30 pm local time. With expectations for it to keep rates checked at 2%, we may just see the AUD/USD continue hugging the 0.73 support/resistance line at least until the next Fed meeting in September, or the keenly watched RBA meeting in November where there is a 60-80% probability of a move expected by then. However, even before these key events materialize, Australian retail sales and the US payroll numbers due out this Friday could move the needle for this commodity currency. The chart shows that if the Aussie is to venture away from the key 0.73 level, a key resistance for any upside will then be the 0.76 level. Conversely, the next key support for the AUD/USD is the 0.71 level.
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