By Richard Pace — Aug 01 - 05:35 AM
RBA was expected to have a binary effect on AUD/USD so rate stay hit hard
Extends setback from Monday's recovery high at 0.6740 to 0.6626 Tuesday
Mild support ahead of Fri 0.6623 low, break opens 29 June 0.6595 low
0.6595 is a double weekly low - close below on Fri would be a bearish sign
Weekly close sub 0.6595 opens potential to 31 May and 2023 low at 0.6459
A strong NFP number that further emboldens USD bulls could prove catalyst
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Source:
Refinitiv IFR Research/Market Commentary