FXstreet.com (Barcelona) - The Australian Dollar has been appreciating against the Dollar after rebound on 0.6770 low on March 30, reaching some pips below 0.6950 resistance level so far. The Hourly chart shows the pair struggling with the 200 SMA, some pips below the mentioned level.
According to the Kshitij Consultancy Service Team, the pair remains at a crucial level, and successful break above here could drive the Aussie to 0.75: Aussie has risen during the day into the Resistance region of 0.6900-0.6945. A significant break past this shall reignite the hopes of 0.75 and render the dip seen over the last two days as a spike.
In any case, the Kshitij Consultancy Service Team, points out to RBA meeting next week to determine the pair's direction: Resistance near this region and comes down, the pair might intend to consolidate within the range of 0.6640-0.6945 over the next few days. RBA Meet next week would be crucial to decide where could the pair be headed. But till then it could be consolidating between 0.6640-0.6900 over the next few days.