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Sep 30 - 08:36 AM
AUD/USD - If RBA Surprises And Holds AUD/USD May Not Rise Much
First appeared on eFXplus on Sep 30 - 06:20 AM
  • Most economists expect RBA to cut rates by 25bps tomorrow nL3N26H0QO

  • Futures imply 78% probability rates trimmed 0.75% RBAWATCH

  • Latest week traders sold AUD/USD but net adjustment ahead event is buying

  • Net short rose around 500mln week to Sep 24, but down 1 bln since mid August

  • AUD/USD dropped 0.6869 to 0.6760 week to Sep 24, above current 0.6746

  • Less shorts overall, recent sellers in profit, cushions any RBA surprise

  • 21/55-DMA 0.6808/27, daily cloud 0.6808/80 & 100-DMA 0.6880 should cap
















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Source:
Refinitiv IFR Research/Market Commentary

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