AUD/USD Outlook (4 November 2019)

Overall, AUD/USD has been trending upwards. Recently, AUD/USD is trending upwards, bouncing-off the key level of 0.69000 upwards.

The Australian retail sales data released was worse than forecasted.

Retail Sales m/m (Actual: 0.2%, Forecast: 0.4%, Previous: 0.4%)


The Reserve Bank of Australia (RBA) will be announcing their interest rate decision tomorrow at 1130 (SGT).
It is expected that the RBA will keep rate unchanged at 0.75%.

AUD/USD’s next support level is at 0.68800 and the next resistance level is at 0.70500.