AUDUSD BREAKOUT KEEP THE FORMER SUPPORT AREA ON RADAR
AUDUSD prices break out August’s range-bound as vice piremier,Liu He plans to visit US next month.
The development may keep AUD prices afloat as it may encourage the RBA to endorse a wait-and-see approach.
It seems that the RBA is in no rush to insulate its economy following back-to-back rate cuts.thus,it is anticipated that the RBA stick to the same previous script on October 1st meeting.
With that said,the ongoing negotations between US and China,Australia’s biggest trading partner,may cause headwinds for AUD,but AUDUSD recent price action put the support area around 0.6850 to 0.6880 on the radar.