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Aug 07 - 07:55 AM

AUD/USD - Dovish BoJ Adds To Relief Rally, Focus On 0.66

By Justin Mcqueen  —  Aug 07 - 06:00 AM
  • Firmer risk tone underpins AUD/USD (+0.7%), door open to test 0.66

  • First challenge for bulls with 200/100DMAs at 0.6597-0.6602

  • BoJ's Uchida tones down recent hawkish rhetoric nL1N3JU03L

  • Prompts extension of risk rally and yen selling

  • Meanwhile, AUD is also backed by a hawkish RBA

  • Among preferred expressions of AUD upside is against CHF

  • Swiss franc back at uncomfortable levels for the SNB nL1N3JS0CG

  • Close above 0.5600 would negate downside risks

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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