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Aug 02 - 02:55 AM

AUD/USD - Eases Slightly After RBA Hikes 50 BPs To 1.85%

By John Noonan  —  Aug 02 - 12:35 AM
  • AUD/USD eased to 0.6990 from 0.7015 after RBA hiked 50 BPs to 1.85% as expected nAZN0E6LKS

  • Support is at the 10-day MA at 0.6966 and break would ease upward pressure

  • RBA statement similar to the July's and signals more tightening to come

  • There weren't any hawkish surprises, but RBA retaining hawkish bias

  • AUD/USD was under pressure earlier on heavy AUD/JPY selling out of Tokyo

  • Risk-off mood prevailed in Asia with the AXJ index falling over 1.5%

  • Geopolitical fears on Pelosi's Taiwan visit adding to global growth concerns

  • With RBA decision out of the way, AUD/USD will be driven by external factors

  • Strong resistance is at the double-fibo formed around 0.7055

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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