By Krishna K — Jul 09 - 06:30 PM
AUD/USD likely to consolidate in Asia after closing unchanged on Tuesday
Traded in a relatively narrow 0.6724-0.6747 range but gains vs peers
Higher-for-longer RBA rate stance which diverges from other c.banks supports
Powell testimony disappoints doves as Fed chief quiet on timing of rate cuts
U.S. yields inch higher, boost USD but Aussie stays firm on RBA expectations
AUD/JPY hits 108.75, highest in 33 years on carry trade demand
Next target 109.74, 1991 high; EUR/AUD hovers near 1-year low
China inflation, RBNZ rate decision, Powell testimony Wed, US CPI Thu eyed
Close above 0.6751, 76.4% Fibo of Dec-April drop opens ratchet to 0.6871
Minor resistance 0.6760-70, 0.6800, support 0.6700-10, 0.6675-80
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Source:
Refinitiv IFR Research/Market Commentary