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Sep 19 - 07:55 PM

AUD/USD - Forms Double-Bottom Ahead Of RBA Minutes

By John Noonan  —  Sep 19 - 06:20 PM
  • AUD/USD opens 5 pips higher at 0.6727 after bouncing from 0.6670/75 support

  • USD ended little changed and mixed ahead of key Fed decision Wednesday

  • AUD/USD formed a double-bottom at 0.6670/75 to validate level as key support

  • RBA minutes today may provide some intra-day volatility

  • Market searching for clues on the size of rate hike in the October meeting

  • According to Refinitiv RBAWATCH market pricing in a 46% chance of 25 BP and 54% chance of 50 BPs

  • AUD/USD trending lower with the 5, 10 & 21-day MAs in a bearish alignment

  • A break above the 10-day MA at 9,6761 would suggest downward momentum waning

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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