Although the Australian dollar has risen over the past week, many economic issues are still at play. This indicates that the rally was due to the recent actions of the Reserve Bank of Australia, particularly on its abandonment of aggressive monetary policy like many countries around the world. The bank also left its interest rate unchanged.
On top of that, the aussie is heavily tied to the Chinese economy, so it is necessary to closely monitor what is happening on the mainland.
It seems that the currency will soon hit a price above 0.68.
The release of the Reserve Bank of Australia's minutes of the meeting on Tuesday will be the opportune time for the aussie to assert itself.
