AUD/USD Deflates from Highs, Near 0.7320
After climbing as high as 0.7360 in early trade, AUD/USD has now slipped back to the 0.7320 area.
AUD/USD bolstered by RBA
The Aussie dollar has picked up further pace after the RBA minutes
signalled no rush from the central bank to incur in further easing via
rate cuts, leaving the chance of a June rate cut close to zero and a low
probability of a July rate cut.
Next of relevance in Oz, RAB’s Debelle is due to speak tomorrow, while
employment figures are expected on Thursday. In the US calendar, CPI
figures, Industrial Production and Fedspeak will take centre stage later
in the NA session.
AUD/USD levels to watch
At the moment the pair is up 0.51% at 0.7326 and a breakout of 0.7367
(high May 17) would expose 0.7403 (high May 11) and finally 0.7485
(20-day sma). On the other hand, the next support aligns at 0.7249 (low
May 16) ahead of 0.7210 (61.8% Fibo of 0.6828-0.7836) and then 0.7105
(low Feb.29).
