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AUD Firms Up After Westpac Changes RBA Call

AUSSIE

AUD knee-jerks higher as Westpac changes their RBA easing call and now expects Australian central bank to cut interest rates in Nov rather than Oct. The currency outperforms all of its G10 peers as we type.

  • AUD/USD last deals +16 pips at $0.7047, familiar technical levels remain in play.
  • AUD/NZD sits +24 pips at NZ$1.0758. A break above the 100-DMA at NZ$1.0773 would open up the 50-DMA/Sep 22 high at NZ$1.0850/51. Initial support seen at Sep 25 low of NZ$1.0718.
  • AUD/JPY trades +9 pips at Y74.33. A jump above the 100-DMA at Y74.78 would expose the 50-DMA, intersecting at Y76.25. Bears look for a retreat under Sep 24 low of Y73.98.
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