The RBA has recently report the November meeting minutes. The central bank still can raise interest rates but has improved its estimation of the economic situation in Australia.
At the same time, the central bank sees a lack of investments in the mining sector, which is considered to be the key factor restraining the Australian economic growth. Some other deterrents include low demand and a strong national currency.
At the same time, the RBA expects the non-mining sectors of the Australian economy to show some strength in the near future due to low interest rates and stronger confidence.
Forex
At the sam time, the Aussie seems to be recovering after a downtrend. According to Masterforex-V Academy, the Australian Dollar is strengthening against the US Dollar. The experts report that AUDUSD is forming wave А/В of level H8.
A further rally (above the 0.9756 high) will probably encounter resistance around 0.9916, 0.9960, 1.0087. The current bullish move will be completed as soon as the price overcomes the bottom of the MF sloping channel and consolidates below 0.9267 (as shown below). If this is the case, the closest levels of support will be found around 0.9221,0.9152,0.9094/80.
