Australian Greenback (AUD) slipped post-RBA yesterday, however dip was temporary. Pair was final at 0.6549 ranges, OCBC’s FX analysts Frances Cheung and Christopher Wong notice.
Bias stays to purchase dips
“A softer USD post-US CPI noticed AUD reclaimed 0.65-handle. On RBA, Governor Bullock’s press convention didn’t point out any main shift in coverage bias. She did say that additional strikes (referring to chop) are attainable if information warrants however she additionally mentioned that bigger minimize was not mentioned on the assembly. From a FX standpoint, RBA is slicing price from a place of stability not misery.”
“Bias stays to purchase dips. Bearish momentum on each day chart light whereas RSI rose. Resistance at 0.6550, 0.66 ranges. Help at 0.65, 0.6430 ranges. Week remaining brings labour market report (Thursday).”
