Bullish view Buy the AUD/USD pair and set a profit value of 0.6520. Add stop loss to 0.6300. Timescale: 1-2 days. Low view Place sell stop at 0.6365 and take profit at 0.6250. Add stop-loss at 0.6 50. AUD/USD fell slightly as investors focused on the upcoming rate decision by the Reserve Bank of Australia (RBA) and the US Federal Reserve. It fell to a low of 0.6 00, which was lower than last month’s high of 0.6520. RBA rate decision The main catalyst for the AUD/USD price is the upcoming RBA rate decision. Economists expect the bank to raise interest rates for the second time in a row to 0.25 percent as it continues to battle rising inflation. However, some analysts believe that the bank could surprise with a 0.50 percent increase after last month’s surprising inflation number. Data released by Statistics Finland showed that headline consumer inflation rose to 7.3 percent in September, the highest level since 1990. Inflation was fueled by relatively high oil and gas prices. The cut CPI, which excludes variable food and energy prices, rose to 6.1 percent in the third quarter from .9 percent in the previous quarter. The , CPI data comes two days after the Australian government released the latest federal budget. In its statement, the fund manager expects headline inflation to rise to 7.75 percent in the last quarter. A 0.25% rate will not affect the Australian dollar much. AUD / USD also reacts to the latest decision of the US Federal Reserve scheduled for Wednesday this week. Economists believe the Fed will continue to raise interest rates at its meeting. An increase of another 0.75 percent is expected from the bank. The Federal Reserve has already raised interest rates by 300 basis points this year and started a process of quantitative easing (QT) to reduce its expansive balance sheet. Investors assessed the statement for possible signs of an acceleration from the Federal Reserve. AUD / USD Forecast AUD / USD rose to a high of 0.6520 last week. This was an important level because it was on the second hurdle of a standard pivot point. It was also above the ascending channel shown in blue. The Aussie is holding just above the 25-day and 50-day moving averages, while the Relative Strength Index (RSI) has declined. MACD and Stochastic Oscillator are still up. Therefore, the pair is likely to continue its upward trend and retest last week’s high at 0.6520.