By Krishna K — Aug 19 - 08:40 PM
AUD/USD pulls back after rallying to a 1-month high of 0.6738 in Asia
Boosted by risk rally and heightened expectations of a dovish Powell on Fri
Gains likely to slow after impressive 2% rise since Thursday
93 bps of Fed easing priced in by Dec, unlikely to be endorsed by Powell
AUD/JPY stalls at a 3-week high of 98.91 for 3rd day, limiting AUD gains
RBA minutes of Aug meeting, China LPR due Tue, key for short-term direction
AUD downside limited as RBA-Fed interest rate expectations diverge
Resistances 0.6744-0.6764, daily highs in mid-July, stronger @ 0.6788-0.6798
Support 0.6695-0.6700,0.6670; AUD/JPY resistance 98.90-99.00, 99.90-100.00
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Source:
Refinitiv IFR Research/Market Commentary