03.05.202210:30 Forex Analysis & Reviews: Technical overview: AUD/USD (there is a possibility of resuming the growth of the pair)

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The pair received support against the background of the RBA's decision to raise the key interest rate from 0.10% to 0.35%, which caused a local recovery. The pair may continue to grow if, following the results of the meeting, it becomes clear that the Fed, after tomorrow's increase in the cost of borrowing by the expected 0.50%, will continue to raise rates by 0.25%.

Technical picture:

The price is located above the middle line of the Bollinger indicator, above the EMA 5 and SMA 14. The relative strength index of the RSI is below the level of 50% and is gradually growing. Stoch is still growing.

Forecast of the day:

After overcoming the 0.7125 level and consolidating above it, the pair may continue to grow to 0.7230.

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