The Reserve Bank of Australia (RBA) will announce its latest decision on monetary policy, which is expected to stay on hold, this Tuesday at 04:30 GMT. The AUD/USD pair is nearing the 0.7000 level ahead of the event, trading at its highest in almost a month, and could test the 0.7063 year high on a positive statement, FXStreet’s analyst Valeria Bednarik briefs. More – RBA Preview: Seven major banks expectations Key quotes “The Australian cash rate stands at a record low of 0.25% and is expected to remain at the mentioned low for a long time. Adding to record low rates, the RBA has opened the door to bond-buying, although it only purchased government debt on one occasion, and it doesn’t seem it would need to rush into it anytime soon.” “AUD/USD could find support in optimistic policymakers, in which case the pair could retest the year high at 0.7063. Beyond this last, the next possible bullish target is the 0.7100 figure.” “A surprise dovish stance could see the aussie retreating towards the 0.6940 price zone, while below this last, the next relevant support comes at 0.6895.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD retreats toward 1.2475 as US dollar trims losses FX Street 3 years The Reserve Bank of Australia (RBA) will announce its latest decision on monetary policy, which is expected to stay on hold, this Tuesday at 04:30 GMT. The AUD/USD pair is nearing the 0.7000 level ahead of the event, trading at its highest in almost a month, and could test the 0.7063 year high on a positive statement, FXStreet’s analyst Valeria Bednarik briefs. More – RBA Preview: Seven major banks expectations Key quotes “The Australian cash rate stands at a record low of 0.25% and is expected to remain at the mentioned low for a long time. Adding to record low… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
