By Paul Spirgel — May 07 - 01:35 PM
AUD$ limping out of NorAm session -0.41% at 0.6598; Tues range 0.6649-0.6587
Pair moved steadily lower after dovish RBA rate hold; Fri high 0.6650 caps
RBA not prepared to hike, wary high prices, policy path seen steady in 2024
AUD/USD-Stumbles at familiar hurdle, RBA sticks to neutral tone nL1N3HA1C3
Supt at Tues low 0.6587, falling 100-DMA at 0.6581, 10-DMA 0.6551
Bears in control abv 0.6506, 50% of 0.6363-0.6650; sub-May 10.6466 in view
Res 0.6650 Friday pre-payroll high, Mar 8 high 0.6667, 0.6703 Jan 15 high
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Source:
Refinitiv IFR Research/Market Commentary