AUD/USD continues consolidating below 0.8000 to the expectation of the RBA

The australian dollar seems to be waiting for the meeting of the Reserve Bank of Australia (RBA) on Tuesday. The AUD/USD for the second day in a row is operating without significant changes, around 0.7970/80.

Last week the price reached to the maximum in years to climb up to 0.8065. But the crossing is not managed to stabilize above 0.8000 and retreated. The fall came up to 0.7935, although the area of 0.7950 is the support to watch in the short term.

The operators seem to be waiting to see what that says the RBA. The expectation is that you keep unchanged the reference interest rate. Occur well, the look will go over what is written in the communiqué and the guideline to the future.

Technical overview

The trend of the pair remains bullish, but has found it difficult to continue on 0.8000. It is currently in consolidation mode, awaiting the next, which occur to the upside, could be closer to the highs of the year. While if it occurs in the opposite direction, the supports are seen at 0.7950, 0.7935 and then a stronger one at 0.7870/75 (minimum of 21 and 26 July).

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