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AUD/USD Under Downside Pressure Below 0 6510 as RBA Looms

Since its minor range swing low of 0.6338 printed on 17 August 2023, the price actions of AUD/USD have been primarily driven by external factors; especially economic news flow out from China as Australia’s commodities producers/trading firms are dependent on either direct or indirectly on the fortunes of the currently cash-stripped Chinese property developers.

AUD/USD is under downside pressure below 0 6510 as RBA looms

The bulls of the AUD/USD has continued to be capped below the key 0.6510 short-term resistance as RBA looms

August central bank overview

August central bank overview
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