News and Market Analysis

Bulls take charge on RBA decision

The bulls have charged through resistance and looking strong for the day. With the RBA deciding to keep the interest rates on hold at 0.25% we see the AUD/USD hovering around 0.7200. All eyes will be on the Federal Budget where tax cuts are expected to be announced. Technically the pair looks strong to hold its ground above 0.7200 but a fall bellow 0.7115 can be a considered as a break to the downside.

#RBA #RBAratedecision #AUDUSD #Federalbudget