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Jul 04 - 07:55 PM

AUD/USD - Opens Higher As China Tariff News Supports Ahead Of RBA

By John Noonan  —  Jul 04 - 07:20 PM
  • AUD/USD opens +0.73% on buoyant equities and news on US/China tariffs nL1N2YL0W3

  • Report Biden is considering scrapping some China tariffs underpinned

  • AUD/JPY rose over 1.0% in the biggest move in the holiday FX market

  • AUD/USD topped out at 0.6878 with resistance at 10-day MA at 0.6893

  • A break above the 10-day MA targets 21-day MA at 0.6962

  • Support is at yesterday's 0.6820 low and break increases downward pressure

  • RBA decision at 04:30 GMT the key event today

  • RBA is expected to hike 50 BPs to 1.35% and signal more hikes on the way

  • If RBA does hike 50 BPs there may be a buy the rumour/sell the fact response

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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