AUD/USD Price Analysis: Consolidates above 0.6800 as investors await RBA minutes – by Sagar_Dua24 AUDUSD RetailSales RBA SupportResistance Fed
sideways as investors are awaiting Reserve Bank of Australia minutes, which will be published on Tuesday at 01:30 GMT. Investors are anxious to know the reasoning behind keeping interest rates unchanged at 4.10%.basket futures indicate caution among market participants as firms have started posting second-quarter results. and stable labor market, investors are shifting their focus on the United States monthly Retail Sales data, which will also release on Tuesday.
The Relative Strength Index has slipped into the 40.00-60.00 range, which indicates that the upside momentum has faded. However, the upside bias is still intact. Going forward, a recovery move above the intraday high at 0.6854 would expose the asset to the round-level resistance of 0.6900, followed by January 09 high around 0.6950.
In an alternate scenario, a further breakdown below July 13 high at 0.6742 would drag the Aussie asset toward July 06 high around 0.6688. Slippage below the latter would further drag the asset toward July 10 low around 0.6623.
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