• AUD/USD has held ground overnight despite thinning U.S. holiday liquidity

• RBA meeting in focus today, first rate cut since 2020 expected (25bps)

• Tone of the accompanying statement will be critical, likely to be cautious

• Commentators suggesting cut will be the beginning of a shallow easing cycle

• Traders aware of 0.6330 inflection point

• Overnight range AUD 0.6354-0.6374, support 0.6230, resistance 0.6550
AUD RBA mng

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