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May 20 - 11:55 PM

AUD/USD - Offered, Slightly Hawkish RBA Minutes Taken In Stride

By Krishna K  —  May 20 - 10:20 PM
  • AUD/USD -0.3% despite RBA May minutes revealing c.bank considered rate hike

  • Australia central bank pondered raising rates on higher inflation risks

  • Decided to stand pat in part to avoid "excessively fine-tuning" policy

  • Judged hike might be needed if forecasts on inflation proved too optimistic

  • AUD upside capped for now as Fed policymakers cautious on inflation, policy

  • Buying dips preferred as multiple factors buoy outlook

  • Support 0.6645-50, 0.6620-25, resistance 0.6690-95, 0.6710-15

  • Asia range 0.6647-0.6675

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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