• AUD/USD hit 0.6392 low Tue following RBA's dovish tone around its OCR cut

• The pair has since recovered 0.5% as the wider USD weakness theme returns

• President Trump struggling to get major tax bill through Congress

• Fed officials Hammack/Musalem say likely trade war outcome is stagflation

• Early hopes for unconditional Russia/Ukraine 30-day ceasefire dissipate

• AUD crosses above 20-DMA, bid short-term, likely to fade near 0.6452 200-DMA

• Overnight range 0.6392-0.6426, support 0.6390 0.6355, resistance 0.6550
AUD Hourly Bollinger Study


AUD Daily 200-DMA

(James Connell is a Reuters market analyst. The views expressed are his own.)