The AUD/USD pair rose to 0.6607 after the Reserve Bank of Australia (RBA) decided on September 30 to keep interest rates at 3.60%. In addition, officials noted a slowdown in the negative dynamics of core inflation. 

The Australian dollar is showing mostly flat dynamics in the AUD/USD pair during the Asian session, consolidating near 0.6620. Investors are focusing on the August block of macroeconomic statistics on foreign trade, where Export volumes fell by 7.8% after growing by 2.5%, while Imports, on the contrary, increased by 3.2% after –2.4%. 

Growth is possible.

On the daily chart, a downward correctional second wave of the highest level (2) ended, and the third wave (3) and the wave 1 of (3) started. Now, the third wave of the lowest level iii of 1 is forming, within which the wave (i) of iii and the correctional wave (ii) of iii has ended, and the wave (iii) of iii is developing. If the assumption is correct, the AUD/USD pair will grow to the area of 0.6800–0.6940. In this scenario, the critical stop loss level is 0.6520.

This week, the AUD/USD pair resumed its growth, recovering previously lost positions and trading in the area of 0.6610. The instrument is supported by the decision of the Reserve Bank of Australia (RBA) to keep the interest rate at 3.60%.

The AUD/USD pair is trading at 0.6619, correcting in an upward trend amid a weakening American dollar and poor Australian macroeconomic statistics.