Australian Dollar rallies after the RBA sets the cash rate at 4.10%. Indicating to the broader markets that Central Banks bias towards further interest rates is continuing. Liquidity is beginning to tighten.

Chart 1

Chart 2

The Reserve Bank of Australia sets another .25% interest rate, bring the cash rate to 4.10%.  The Australian Dollar rallies over 0.7% or just over half a cent to 0.667.  With support now at 0.661 and resistance at 0.666, liquidity in Australia maybe finally tightening up, to which the AUD should maintain its rally to January 2023 highs of 0.68 and beyond.

Refer to Chart 1 and 2

The AUD being the risk barometer currency, is pointing to further restriction on global equity markets vs U.S. Dollar bids.  Central Banks are not finished with interest rates as yet.