AUD/USD Supported Sub 0.6700, RBA Review Out Today

Lows for Wednesday's session came not long after the post Asia close, with AUD/USD slipping to 0.6690, before rebounding. We got back as highs as 0.6735, settled into 0.6715/20 by the NY close, which is where we currently track. This left the A$ down slightly for Wednesday's session as a whole (-0.18%).

• This largely leaves the currency respecting recent ranges, on the topside the 50-day EMA is at 0.6734, while the April 14 high at 0.6806 remains a key resistance point. Support to watch lies at 0.6620, the Apr 10 low.
• The USD was higher against the rest of the G10 as US yields remained elevated (2yr near 4.245%). The BBDXY got close to 1230 but finished NY trade just under 1227. Lower commodity prices also weighed on the AUD, albeit at the margins.
• Equity sentiment was slightly negative in terms of the major indices, while the VIX still nudged down, closing just under 16.50%.
• The main focus today will be the release of the RBA Review, with both RBA Governor Lowe and Treasurer Chalmers holding press conferences. The link to the Lowe's press conference is here.
• Also note Q1 NAB business confidence is out, but is unlikely to shift sentiment.