Australian Dollar Faces Volatility After RBA Rate Cut
The Reserve Bank of Australia’s (RBA) rate cut has created uncertainty for the Australian dollar. The chart below shows that the RBA lowered its cash rate target by 25 basis points, marking the first rate cut in four years.
AUD/USD Analysis – Bullish Continuation
The AUD/USD shows strong volatility within the ascending broadening wedge pattern. The pair forms an inverted head and shoulders pattern within the wedge, and the price consolidates at its edge. This consolidation indicates a bullish continuation and a break above $0.6370 will open the door for a strong rally in AUD/USD.
