Now the price is correcting downward following the Reserve Bank of Australia’s decision to cut the interest rate to 3.60%, reflecting inflation moving closer to the 2.0–3.0% target range. The board stated that maintaining full employment with low and stable inflation could require further easing in the coming year, depending on incoming data. Most analysts expect the next cut in November, with the rate stabilizing in 2025 around 3.10–2.85%. These dovish plans may pressure the AUD, considering that Fed adjustments are likely to remain one-off given inflation risks tied to import tariffs.
Support and Resistance Levels
The instrument is attempting to decline from the middle Bollinger Band. A break below 0.6439 (Murray [3/8], Fibonacci 50.0% retracement) may open the way toward 0.6348 (Murray [0/8]) and 0.6287 (Murray [–2/8]). If resistance at 0.6531–0.6550 (Murray [6/8], Fibonacci 61.8%) is broken, targets at 0.6622 (Murray [+1/8]) and 0.6653 (Murray [+2/8]) will be tested.
Indicators show mixed signals: Bollinger Bands are turning down, MACD remains in the negative zone, while Stochastic has turned upward and is approaching overbought levels.
Resistance levels: 0.6550, 0.6622, 0.6653.
Support levels: 0.6439, 0.6348, 0.6287.
Trading Scenarios
Short positions may be opened below 0.6439 with targets at 0.6348 and 0.6287, stop-loss at 0.6500. Implementation period: 5–7 days.
Long positions may be opened above 0.6550 with targets at 0.6622 and 0.6653, stop-loss at 0.6410.
Scenario
Timeframe: Weekly
Recommendation: SELL STOP
Entry Point: 0.6435
Take Profit: 0.6348, 0.6287
Stop Loss: 0.6500
Key Levels: 0.6287, 0.6348, 0.6439, 0.6550, 0.6622, 0.6653
Alternative Scenario
Recommendation: BUY STOP
Entry Point: 0.6555
Take Profit: 0.6622, 0.6653
Stop Loss: 0.6410
Key Levels: 0.6287, 0.6348, 0.6439, 0.6550, 0.6622, 0.6653