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AUD Takes A Hit From RBA Comments

AUSSIE

AUD went offered on the back of comments from RBA Asst Gov Kent, who said that it wouldn't be unexpected if BBSW popped below 0% if the RBA adds monetary stimulus. His earlier comments largely reiterated familiar messaging.

  • AUD/USD last deals -23 pips at $0.7051. The rate has severed support from Oct 15 low and bears now keep an eye on Sep 28 low of $0.7029, followed by the bear rigger & Sep 25 low of $0.7006.
  • AUD/NZD erased its earlier uptick as Kent's comments negated the impact of an earlier speech from RBNZ Gov Orr, who flagged potential for implementing macroprudential measures. The rate changes hands -12 pips at NZ$1.0697, with bears looking for losses past yesterday's cycle low of NZ$1.0682 before targeting Jul 27 low of NZ$1.0672.Topside focus falls on Sep 25 low of NZ$1.0718.
  • AUD/JPY last seen -14 pips at Y74.37. A clean breach of Oct 15 low of Y74.26 would give bears a green light for targeting Sep 24 & Jul 10 lows of Y73.98. Conversely, bulls look to retake the 100-DMA at Y75.51.
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