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Feb 05 - 12:12 AM

AUD/USD - Struggling To Rally Despite Upbeat RBA

By John Noonan  —  Feb 04 - 10:25 PM
  • AUD/USD opened 0.6738 and drifted down to 0.6724 in early Asia

  • AUD/JPY selling out of Tokyo weighed before speech by RBA Governor Lowe

  • There was little reaction to Lowe's initial relatively upbeat comments

  • The pair moved higher later when Lowe indicated the RBA not ready to ease nL4N2A50JCnL4N2A50RQ

  • The AUD/USD traded to 0.6745 before easing back to 0.6735 into the afternoon

  • Resistance at 10-day MA @ 0.6752 and break would suggest S/T bottom in place

  • Hourly support at 0.6705 and break would ease the upward pressure






aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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