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AUD/USD Dips Sub 0.6400 Supported

AUD

AUD/USD sits close to unchanged versus opening levels in recent dealings. We did get sub 0.6400 (low of 0.6394), but support was evident, and we sit back near 0.6410 currently. The move below 0.6400 coincided with the China 5-yr LPR being held steady, while not long after HK and China equities opened up weaker. These markets are away from lows, but still comfortably in the red.

  • On the topside, the AUD hasn't been able to get above 0.6420. Lows from last week rest at 0.6365, leaving us very much within recent ranges.
  • On crosses AUD is outperforming NZD at the margins, but we remain within recent ranges (last near 1.0830). For AUD/JPY dips sub 93.00 are being supported the pair last in the 93.20/30 region.

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