AUD/USD & RBA Debelle's Speech: Bearish sequence ongoing?
Later today at 11:25 GMT in Sidney, Australia, will speak the RBA Assistant Governor's Guy Debelle, in an event where the focus would be on possible hints about what RBA could decide in future, regarding their monetary policy. It's expected that the volatility during this speech at AUD pairs could be low to medium, as the “Brexit” uncertainty will also play a key role in pair's movement at Forex market during this week.
The technical picture for AUD/USD at daily chart is calling for a bearish trend line channel formation, which is also giving some strength to bears in a mid-term basis. However, we had drawn a Fibonacci retracement, connecting the lows from January 15th with highs from April 21th, and it's giving us a possible bullish continuation in a long-term perspective, because Aussie did a rebound above the 61.8% level. However, AUD/USD can follow the bearish sequence if it does again a pullback at bearish trend line in the upside (near to 0.7450) and next target would be the lows from May 24th, around 0.7157 price zone.