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Jul 05 - 02:55 AM

AUD/USD - Eases As RBA Hikes 50 Basis Points As Expected

By John Noonan  —  Jul 05 - 12:40 AM
  • The RBA hiked the cash rate 50 BPs to 1.35% as was expected

  • RBA statement indicated more hikes to come - awaiting fresh data nAZN0AIIEM

  • AUD/USD slipped from 0.6880 to 0.6855 as result was expected

  • Price action suggests it was a "buy the rumour/sell the fact" event

  • Resistance is at the 10-day MA at 0.6895 and the 21-day MA at 0.6962

  • Support is at yesterday's 0.6820 low and July 1 low at 0.6764

  • AUD/USD traded to 0.6894 earlier on hopes of China optimism nL1N2YM035nL1N2YM029

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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