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AUD/USD Struggles Above 0.6500

AUD

AUD/USD is struggling to maintain a foothold above 0.6500. We hit a high just under 0.6530 post the RBNZ, as NZD strength dragged the A$ higher. However, we are now back sub 0.6500, (last 0.6490/95) amid a broad USD rebound. Note we bounced from the 0.6450/60 region a number of times yesterday. On the topside, moves into the 0.6520/50 range appear to be drawing selling interest for now.

  • Lower US equity futures are weighing, down -0.50%. Commodity markets are edging higher, but once again don't appear to be a major driver of sentiment.
  • On a cross basis, AUD/NZD remains lower but at 1.1285 we are above the earlier trough, just under 1.1250.
  • The A$ is mixed against the rest of G10. AUD/JPY is back towards 93.55/60, but we remain within recent ranges.
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