By John Noonan — Mar 06 - 05:15 PM
AUD/USD opens -0.55% due in mostly to China growth target disappointment nL1N35D02A
AUD underperformance highlighted by a more than 1% fall against the EUR
AUD/USD support at the March 1 low at 0.6695 with bids eyed ahead of 0.6700
Resistance is at the descending 10-day MA - which comes in at 0.6752 today
Key event today will be RBA decision - with a 25 bp hike to 3.60% expected
The main focus will be on statement to see if RBA curbs hawkish rate outlook nL4N35D0VV
Moves in the CNY will also influence short-term AUD/USD direction
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary