The Australian franc pair rose during the Asian trading period on Tuesday for the third day in a row, but today's rises are more powerful than the previous days due to the fact that today the interest rate decision was issued from Australia, which was fixed at 4.35% as expected.

the Australian bank also maintained its hawkish stance, and said that it has a desire to gain more confidence about low inflation before monetary policy shifts towards lowering interest rates, with the same idea confirmed during the press conference and the talk of Michelle Pollock governor of the bank.

This pushed the Australian dollar higher against most currencies at dawn today.

Technically, the Australian franc pair is trading inside a falling wedge on the daily frame, rebounding from its lower limit approximately as we mentioned in our weekly analysis here.

We still expect a further rise of the pair to target the levels of 0.5720 as the first target, then 0.5765 and finally the resistance levels of 0.6860, especially if the pair breaks through the levels of the ascending wedge and closes above the daily candle.

The scenario fails if the candle closes the daily lows of 0.5600.