The Australian dollar in the Asian session this morning (Tuesday) did not react significantly to the decision of the Australian central bank meeting just now.
The Reserve Bank of Australia (RBA) kept interest rates unchanged for the March 2022 edition meeting that the market had anticipated.
Governor Philip Lowe is still reiterating an earlier statement that instructed policymakers to take a wait -and -see measure while the latest focuses on the development of the war crisis between Russia and Ukraine.
The Australian dollar was seen not reacting to the outcome of the meeting in the Asian session, but began to show an improvement at the beginning of the European session which was still influenced by slightly recovered market sentiment.
In the current crisis, which is in the negotiation phase, the slightly recovered market sentiment was also a factor in the appreciation of the Aussie dollar while the US dollar was stunted from the strengthening displayed last week.
Therefore, investors saw the bullish pattern reappear on the price chart of the AUD/USD pair earlier this week.
The price has made a rise from the 0.71800 zone yesterday until it passed the resistance at 0.72300 and closed the New York session trading around 0.72600.
Continuing trading in the Asian session this morning, prices moved flat and there was no reaction after the decision of the RBA meeting.
Returning to focus on the development of the Russian-Ukrainian crisis, the price resumed its rise to the resistance level of 0.72800 and tried to overcome the high level reached by the price last week.
A higher rise is expected to reach the resistance zone in January, which is around 0.731000, recording the latest 7 -week high.
However, if the decline occurs again, the initial support level that is seen to be tested is at 0.72300 before heading to the 0.71800 zone again.
A lower decline of the bearish trend change signal will push the price to hit back up to the support zone at 0.71000.
