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Sep 06 - 07:55 PM

AUD/USD - Sideways Trading Likely Before Breaking On RBA Decision

By John Noonan  —  Sep 06 - 05:56 PM
  • AUD/USD opens 0.12% lower around 0.7440 after trading as low as 0.7427

  • Support at former resistance at 0.7426 held - as bids eyed at 0.7425

  • AUD/USD likely to sideways trade before RBA decision later today

  • RBA will hold cash rate at 0.1%, but opinions differ on whether they will taper nL4N2Q43VA

  • If RBA delays taper plans - AUD/USD likely to fall to 55-day MA at 0.7388

  • If they proceed with planned tapering - AUD/USD likely to pop above 0.7500

  • Before the RBA decision, China trade data will be released

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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