The Australian dollar witnessed a decline against the US dollar, continuing its losses for the second day in a row, moving away from the highest level in four months, with corrections and profit-taking continuing.
As the Australian dollar fell against its American counterpart by about 0.75% to 0.6571, from the opening price of today’s trading at 0.6620, and recorded the highest level at 0.6622.

After an expected decision from the Reserve Bank of Australia, the Australian dollar topped the list of losing currencies, as Australian interest rates were kept without any change according to most expectations in the markets.
The Australian Reserve said that the decision to keep the interest rate constant at this meeting will allow time to evaluate the impact of increases in interest rates on demand, inflation, and the labor market in the country.

As for the rise in the US dollar, it is partly due to the cessation of the intense selling operations that took place in the past few weeks, which saw the dollar index decline approximately three percent during November, which is the largest monthly decline in a year.
Regarding the technical indicators, they indicate the possibility of a continued decline for the Australian dollar against the US dollar, but despite this decline, the moving averages indicate buying.

*All data provided is intended for educational or informational purposes only and should not be considered investment advice.