Free Trial

Dovish RBA, Back Under 0.69 The........>

AUSSIE TECHS: Dovish RBA, Back Under 0.69
The aussie complex witnessed a choppy session overnight which saw APRA inspired
gains countered by dovish RBA minutes and Governor Lowe remarks that said RBA
members will consider the case for lower interest rates. AUDUSD dipped back
under 0.69 with the downtrend extending to 0.6870 (76.4% of Jan rise). This
brings the May 17 low into view at 0.6865, while a downside break would
accelerate the move towards the 0.6825/40 area which has registered a series of
previous lows through Jan 2016. The post election highs at 0.6938 remains the
focus for bulls with a break above here needed to challenge the May 14 high &
21-dma at 0.6960/83.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.