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Nov 05 - 02:55 AM

AUD/USD - Slips In Asia After RBA SOMP And Firming USD

By John Noonan  —  Nov 04 - 11:06 PM
  • AUD/USD opened -0.67% at 0.7399 after GBP/USD fall underpinned USD

  • It traded to 0.7408 before the release of the RBA Quarterly SOMP

  • RBA lifted growth and inflation forecasts, but emphasized patience nL1N2RW01D

  • RBA said conditions and forecast didn't warrant a hike in 2022

  • AUD/USD fell to 0.7378 before steadying around 0.7385 into the afternoon

  • AUD/USD was also weighed down by a broadly firmer USD

  • Support is at 100-day MA at 0.7380 and 50% retrace of 0.7170/0.755 at 0.7363

  • Resistance is at the 21-day MA at 0.7444 and break eases pressure

  • US non-farm payrolls later today likely to set the tone for next week

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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