AUDUSD CONSOLIDATION AND 0.71000 RETEST.
in the early hours of this morning the RBA interest rates decisions were released and the figures were unchanged at 1.5% with the market volatility moving just over 10 pips and not having much significance.
we have seen strong gains in the dollar with the announcement of possible interest rate hikes by Jerome Powell though there was a huge decline in the manufacturing and the University of Michigan consumer sentiment which saw drops in the past couple of months.
the DXY rose by 0.36% and the dollar index rose to the highest its been in the past two weeks topping off at 96.80.
we now see a support line test which a possible downside play and bearish movement towards 0.70000, this comes after talks between U.S China are drawing to a close.
we have seen strong gains in the dollar with the announcement of possible interest rate hikes by Jerome Powell though there was a huge decline in the manufacturing and the University of Michigan consumer sentiment which saw drops in the past couple of months.
the DXY rose by 0.36% and the dollar index rose to the highest its been in the past two weeks topping off at 96.80.
we now see a support line test which a possible downside play and bearish movement towards 0.70000, this comes after talks between U.S China are drawing to a close.
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