AUD/USD Trades Within Head-and-Shoulders Formation Ahead of RBA

AUD/USD carves a series of higher highs and lows ahead of the RBA meeting as the board is widely expected to keep the official cash rate (OCR) at the record low of 0.10%, and it seems as though the central bank is in no rush to conclude its quantitative easing (QE) program as “a further $100 billion will be purchased following the completion of the initial program.” image More of the same from the RBA may drag on AUD/USD as the board pledges to “not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range,” and it remains to be seen if the central bank will … (full story)

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