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Apr 05 - 09:55 PM

AUD/USD - Better Bid As Market And Press Pencil In June RBA Hike

By John Noonan  —  Apr 05 - 08:50 PM
  • AUD/USD traded above 0.7590 after correcting to 0.7574 late in US session

  • The correction filled in some of the gap from 0.7540 to 0.7661 after RBA nL2N2W306M

  • Local press suggesting a June 25 BP hike by the RBA is all but a done deal

  • Market is pricing in more than a 100% chance the RBA will hike in June

  • Aus election and release of wage price index May 18 makes a May hike less likely

  • Support is at former resistance at 0.7540/55 and 10-day MA at 0.7522

  • Resistance is at yesterday's 0.7661 high and 76.4 of 0.8007/0.6967 @ 0.7761

  • For more click on FXBUZ









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Source:
Refinitiv IFR Research/Market Commentary

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