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AUDUSD Finds Support At 0.6550, RBA’s Bullock Coming Up

AUD

AUDUSD fell during the Asian session yesterday and then range traded around the new low over the rest of the day. Markets are waiting for today’s US CPI data and central bank meetings later in the week. The pair is currently down 0.2% to 0.6568, off the intraday low of 0.6550 during European trading. The USD index was 0.1% higher.

  • AUDUSD remains in an uptrend and moves lower are seen as corrective. The bull trigger is at 0.6691. Initial support is at 0.6555, 20-day EMA.
  • AUDJPY is 0.7% higher at 96.01. AUDNZD is down 0.1% to 1.0732 but it has stayed above 1.07 with a low of 1.0705. AUDEUR is down 0.2% to 0.6102, off the low of 0.6086, and AUDGBP -0.2% to 0.5231.
  • Equity markets were generally stronger with the S&P up 0.4% and the Euro stoxx +0.4% but the FTSE down 0.1%. Oil prices moved moderately higher with Brent rising 0.4% to $76.12/bbl. Copper fell 1.2% and iron ore is around $135/t.
  • Today RBA Governor Bullock speaks at 0920 AEDT. Then there are Westpac consumer confidence and the NAB business survey.
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