Bearish View

  • Sell the AUD/USD pair and set a take-profit at 0.6950.
  • Add a stop-loss at 0.7050.
  • Timeline: 1-2 days.

Bullish View

  • Set a buy-stop at 0.7050 and a take-profit at 0.7150.
  • Add a stop-loss at 0.6970.

The AUD/USD price dropped to a low of 0.700 as the market reacted to the latest minutes by the Reserve Bank of Australia (RBA). The price was about 2% below the highest level this month ahead of the latest US retail sales and FOMC minutes.

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