The Australian dollar struggled to recover and the RBA did not help too much. The main event for the upcoming week is the capital expenditure report. Will the Aussie bounce? Here are the highlights of the week and an updated technical analysis for AUD/USD.
The RBA meeting minutes were somewhat dovish and sent the Aussie to lower ground. The A$ managed to recover mostly thanks to the fall of the dollar, due to the Fed’s own concerns about inflation. The Aussie also managed to bounce on alongside a leap in the amount of construction work done: 15.7% in Q3.
Updates:
AUD/USD daily graph with support and resistance lines on it. Click to enlarge:
