AUD/USD Decline Below 0.6400 Signals Market Caution
The Australian Dollar has plunged below the critical support level of 0.6400 during Tuesday’s trading session. The currency’s decline follows less-hawkish guidance from RBA Governor Michele Bullock. The RBA maintained its Official Cash Rate at 4.35% for the ninth consecutive meeting. This stance invites uncertainty among traders regarding the Australian Dollar’s future performance. As traders digest these developments, a cautious approach nearly dominates market sentiment. Continued observations of economic indicators, both domestic and global, will steer the AUD/USD pair in the coming days. Understanding the motives behind these movements remains essential for effective trading strategies.
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