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May 04 - 11:55 PM

AUD/USD - Tests Resistance As RBA Stays Hawkish

By Krishna K  —  May 04 - 10:05 PM
  • RBA warns on upside risks to inflation & interest rates, AUD blips higher

  • Cites low productivity growth, surging immigration as inflation risks

  • Says higher rent, electricity and gas prices also driving up inflation

  • AUS/USD trades to a 0.6716 high, marginally below the 0.6717 Tue peak

  • Resistance 0.6718, 61.8% Fibo of 0.6808-0.6573 drop; break opens 0.6745-50

  • Support 0.6685-90, 0.6655-60; traders await key U.S. jobs data Friday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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