0714 AUDUSD: Is 0.6970 the Next Stop for Bulls?

0714 AUDUSD: Is 0.6970 the Next Stop for Bulls?

55K

Traders are predicting a possible rate hike in Australia next month following warnings from Reserve Bank of Australia Governor Philip Lowe about inflation. A potential rate cut by the Fed may lead to a decline in the U.S. dollar, favoring the Australian dollar, which may rise to 0.7000 before year's end.