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• AUD/USD steadied around 0.6365 on Monday as investors awaited Reserve Bank of Australia’s upcoming monetary policy decision.
• The Reserve Bank of Australia is set to announce its rate decision on Tuesday, with a 25 basis point cut to the 4.35% official cash rate expected.
• Australia will release wages data on Wednesday and jobs figures on Thursday. On Friday, RBA senior officials, including Governor Michele Bullock, will appear before parliament to explain their latest rate decision.
• At GMT 05:40, The Australian dollar was last trading up 0.33% to $0.6365.
• Immediate resistance is located at 0.6380(38.2%fib), any close above will push the pair towards 0.64619(23.6%fib).
• Support is seen at 0.6317 (50%fib) and break below could take the pair towards 0.626 (61.8%fib)
Recommendation: Good to buy around 0.6360, with stop loss of 0.6290, and target price of 0.6410
