AUD/USD tops 0.79 on RBA bullishness, USD weakness

AUD/USD was capped by the April 2016 high of 0.7840 and formed a double top. This did not last too long. A double-whammy of events sent the pair shooting higher.

AUD/USD is currently trading at 0.7915 and the high so far has been 0.7923. Will it reach 0.80?

RBA bullishness

Contrary to the rate statement that lacked any hawkishness, the meeting mintutes from the July 2017 showed an incline to raise interest rates. With this, the team led by Phillip Lowe joins his hawkish colleagues at the ECB, BOE and BOC.

End of Trumpcare?

Reports coming out of the US discuss a failure of the the attempt to repeal and replace Obamacare. The health issues of Senator McCain mean that it becomes even harder to pass a revised Senate version of the new bill.

A failure to repeal the Affordable Care Act after 7 years of vows to do so mean a lower chance of passing other topics: tax reform and infrastructure spending.

AUD/USD

We are currently back to levels last seen in early 2017 and basically 0.80 is the next level.

Get the 5 most predictable currency pairs[1]

from Forex Crunch http://feedproxy.google.com/~r/ForexCrunch/~3/U_pawre1X88/

from Online Forex Trading Resource
View thesource article here

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