AUD Lands At The Bottom Of G10 Pile

AUD dived during the Q&A with RBA Gov Lowe, who noted that the the central bank wants to see a material turnaround in employment and inflation. He stressed that policymakers await more than "progress towards full employment" and will focus more on actual inflation than outlook, adding that the central bank doesn't expect interest rate hikes for at least the next three years. Furthermore, the Governor outlined various questions the policymakers are grappling with. The Aussie showed a muted reaction to the opening salvo from RBA Gov Lowe and took a dip only after a breather. The currency is the worst performer in G10 FX space as we type.

• AUD/USD has given away 26 pips and last trades at $0.7136 after breaking under Oct 13 low of $0.7150. Next support coming up at $0.7096, the low of Oct 7. Bulls look for a rebound above trendline resistance at $0.7213.
• AUD/JPY last seen at Y75.07, 25 pips worse off. A clean breach of Oct 7/2 lows of Y74.95/93 would turn focus to Sep 24 low of Y73.98. Bulls need a clearance of the 50-DMA at Y76.23, before taking aim at Oct 9 high of Y76.52.
• AUD/NZD had ebbed 24 pips lower and last sits at NZ$1.0735. Bears keep an eye on the nearby Sep 25 low of NZ$1.0718, a key near-term support. Below there opens Jul 27 low of NZ$1.0672. Bulls look for a rally above the 50-DMA at NZ$1.0866, towards Oct 8 high of NZ$1.0898.