{"id":150242,"date":"2019-06-25T10:45:55","date_gmt":"2019-06-25T14:45:55","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=150242"},"modified":"2019-06-25T07:01:33","modified_gmt":"2019-06-25T11:01:33","slug":"audusd-analysis-getting-ready-for-next-meeting-of-reserve-bank-of-australia","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/06\/audusd-analysis-getting-ready-for-next-meeting-of-reserve-bank-of-australia\/","title":{"rendered":"AUDUSD Analysis: Getting ready for next meeting of Reserve Bank of Australia"},"content":{"rendered":"
June 25, 2019<\/div>
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By IFCMarkets<\/a><\/strong><\/p>\n

Getting ready for the next meeting of the Reserve Bank of Australia<\/strong><\/p>\n

The head of the Reserve Bank of Australia (RBA) Philip Lowe expressed doubts about the effectiveness of the monetary policy of world central banks to reduce interest rates. Will the Australian dollar quotations<\/a> increase?<\/p><\/blockquote>\n

Such a movement means its strengthening against the US dollar. Currently, the RBA rate is at historic lows at 1.25%. Investors are waiting for the inevitable rate cut to 1% already at the next meeting of the Australian Central Bank on July 2, 2019 and the subsequent reduction to 0.75% by the end of this year. After the statement of the RBA head , the probability of falling rates to 0.75% decreased. Market participants believe that a level of 1% may be sufficient for the Australian dollar. This provided support for AUDUSD. An additional positive factor for it is investors’ expectations that the US Federal Reserve will lower its rate at the next meeting on July 31, 2019. Currently the probability of such event is estimated at 62%. Fed rate cut forecasts have a negative effect on the US dollar.<\/p>\n

\"AUDUSD\"<\/p>\n

On the daily timeframe AUDUSD: D1<\/b> demonstrated a false breakdown of the support level and began a correction to the top. Various technical analysis indicators have generated uptrend signals. Further growth of quotations is possible in case of statements by Reserve Bank of Australia at a meeting on July 2 that it will refrain from excessive easing of monetary policy.<\/p>\n