The RBA raises the interest rate of 4.35%, but AUD/USD is fast!

<p>&nbsp;The Australian Central Bank Policy Meeting on Tuesday had a huge impact on the Australian dollar currency movement.</p><p><br /></p><p>Reserve Bank of Australia (RBA) fulfilled expectations to increase interest rates by 25 basic points from 4.10% to 4.35%.</p><p><br /></p><p>However, what was the investor's concern at first was a significant decline in the Australian dollar.</p><p><br /></p><p>On the basis, measures to raise interest rates by the central bank will drive a spike in the value of the currency.</p><p><br /></p><p>The depreciation of the Aussie dollar was due to a follow -up statement delivered by the central bank interpreted by Dovish.</p><p><br /></p><p>The RBA signaled a decrease in confidence in the need for additional interest rate hikes and would depend on the economic data present.</p><p><br /></p><p>Thus, although interest rates were raised, the Aussie dollar showed a significant decline in value yesterday.</p><p><br /></p><p>On the AUD/USD currency chart, it can be noted that the price of 0.65000 to almost 0.64000 in the New York session yesterday.</p><p><br /></p><p><br /></p><p>There was a slow bounce to continue in the Asian session this morning (Wednesday), but prices were still moving below the Moving Average 50 (MA50) barrier at the 1 hour frame on the chart for bearish signals.</p><p><br /></p><p>The lower decline is still expected but it is quite limited as the US Dollar currency also featured a blatant performance yesterday.</p><p><br /></p><p>If the decline continues, the price target is to test the zone around 0.63700.</p><p><br /></p><p>If the bearish movement is still ongoing, the support zone at 0.63000 can be priced.</p><p><br /></p><p>On the other hand, if the price jumped beyond the MA50 barrier, the price hike is seen to try to overcome the 0.65000 level.</p><p><br /></p><p>Subsequently the increase will continue to reach the resistance zone at 0.65400 for the latest 3 -month highest record.</p>