AUD/USD up 0.15% in Asia, supported by diverging RBA-Fed rate expectations

102 bps of Fed rate cuts priced in by Dec 2024 but just 21 bps of RBA cuts

Failure to sustain rally above 0.6800 on Wed likely to weigh on sentiment

Risk aversion triggered by a drop in chip stocks to cap rallies

Australia Q2 Capex and 2nd estimate of U.S. Q2 GDP awaited Friday

Resistance 0.6819, 61.8% of 0.7158-0.6271 drop in 2023 & 0.68385, 2024 high

Support 0.6760-65, 0.6730-35; Asia range 0.6781-0.67975

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