Australian Greenback (AUD) fell post-dovish RBA yesterday. AUD final at 0.6445 ranges, OCBC’s FX analysts Frances Cheung and Christopher Wong notice.
Day by day momentum shouldn’t be displaying a transparent bias for now
“However the decline was additionally considerably restrained, possible resulting from a softer USD development. As a lot as home coverage issues, exterior developments may greater than offset. A considerably extra constructive danger backdrop (i.e. China optimism, and so forth.) alongside bearish greenback development ought to see nonetheless be supportive of AUD view.”
“Day by day momentum shouldn’t be displaying a transparent bias for now. Fast resistance at 0.6460 (200 DMA), 0.6550 (61.8% fibo retracement of 2024 excessive to 2025 low). Escape ought to open room for additional upside. Help at 0.6420 (21 DMA), 0.6340 (50DMA).”
