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May 19 - 07:55 PM

AUD/USD - Higher On US Concerns; Traders Wary Of RBA

By James Connell  —  May 19 - 06:01 PM

• AUD/USD +0.9% from Mon's 0.6400 low as traders prepare for RBA outcome

• USD softer Mon after U.S. credit rating downgrade & tariff concerns return

• RBA OCR decision 0430 GMT Tue, 25 bps cut expected, statement will be key

• Forward guidance likely opaque, any perceived bias will sharply impact AUD

• AUD back above 0.6453 200-DMA but needs fresh catalyst to extend rally

• Overnight range 0.6410-645, support 0.6355 0.6180, resistance 0.6550
AUD Daily 200-DMA & DXY


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

Source:
London Stock Exchange Group | Thomson Reuters

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