What's going on with the AUD/USD?

On the daily chart, the AUD/USD continues to move between the 20-day Simple Moving Average (SMA) and the 55-day SMA (0.6505). The 0.6400 level has become a relevant support, and a consolidation below it should bring further weakness to the Aussie, exposing the 20-day SMA at 0.6360.

Is the AUD/USD exchange rate in agreement with the Big Four?

Other banks in the Big Four were in agreement, with Westpac forecasting the AUD/USD exchange to reach 0.70 by June 2023. That view was optimistic, with the exchange rate coming in at 0.66 as of July 7. In July, the Australian dollar steadied around $0.667 despite the RBA voting to hold the cash rate steady at its July Board meeting.

How does the AUDUSD news affect the economy?

The AUDUSD news can be seriously affected by the decisions taken by these organizations and people: Reserve Bank of Australia (RBA) that issues statements and decides on the interest rates of the country. Its president is Philip Lowe. Australian Government and its Department of Finance that implement policies that affect the economy of the country.

Will AUD/USD rise further to 0.6585?

AUD/USD rises further to 0.6585 so far as rally from 0.6269 continues today. Intraday bias stays on the upside at this point. Current development argues that whole decline from 0.7156 has completed with three waves down to 0.6269. Further rally should be seen to falling channel resistance (now at 0.6676) next.