The AUD Exchange Rate vs US dollar falls despite a stronger ASX 200 Stock Index, as RBA Governor Bullock stays apprehensive.

Key Highlights

The Australian currency (AUD) falls following the RBA’s move to maintain its interest rate policy constant.
Given the current market prudence, trading on the Australian S&P/ASX 200 Benchmark is minimal.
The US greenback rises as US Treasury rates rise, fueled by predictions about the US Fed having aggressive over a long term.

The BOJ raises rates of interest for the very first period in 17 years in order to stay accommodating.

AUDUSD falls as the RBA becomes least bullish.

The Australian currency fell 0.4 percent on Tuesday as the RBA maintained rates of interest yet sounded a less aggressive mood than expected.
The Reserve Bank of Australia wasn’t issuing an unequivocal caution that rate of interest may increase further to battle persistent inflation. Rather offering primarily ambiguous signs that its fiscal stance would stay tighter to counterbalance excessive price increases.

The AUD stayed lukewarm amidst low volume of trading as market players acted cautiously. Before of the RBA rate hike announcement. Nevertheless, the Australian monetary authority maintained its rate of interest at 4.35 percent during its March decision meet. The bank’s Governor Bullock spoke on its policy prospects over a press briefing.  After its interest rate meeting on Tuesday. Bullock highlighted success in the battle on inflation, noting recent data that show that the nation is on the correct road. Still, Bullock underlined the significance of periodically tracking employment figures. She stressed the dangers to the forecast.

AUDUSD Technical Analysis

On Tuesday, the AUDUSD remained near its critical level of 0.6550 mark. A break under this mark may result in a downward trend for the AUDUSD set. While further support expected near the 61.8% of retracement of Fibonacci level of 0.6528 level. Followed by the psychological supporting zone of 0.6500 area. On the upward trajectory, the AUDUSD duo may face barrier at the 9 D- EMA around 0.6571. Backed by the psychological obstacle at 0.6600 zone.

With the 4-hour graph, the negative motion looks like it’s accelerated lately. Given that, further declines may push the duo back above the 200 Simple Moving Avg around 0.6542 level. followed by 06477, and finally, 0.6442 mark. On the contrary , the initial barrier is close to the 55-S (Moving Average) of 0.6590, then follows 0.6667 then 0.6728. In addition, the MACD fades into the adverse area, while the RSI lowers below the 35 level.

5- Hourly Technical Indicators & Signals