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Post-RBA Plunge

AUD

AUD/USD retreated on Tuesday as some dovish overtones in the RBA's monetary policy decision took focus, while participants turned cautious ahead of the upcoming policy announcement from U.S. FOMC.

  • The rate last sits at $0.7432, little changed on the day. A resumption of losses and a break under yesterday's low of $0.7420 would shift bearish focus to Oct 8 low of $0.7288. Conversely, a jump above the 200-DMA/50% retracement of the Feb - Aug sell-off at $0.7555/57 would give bulls some reprieve.
  • Australia's building approvals are due at the bottom of the hour, while trade balance and quarterly retail sales will be published on Thursday. The RBA's SoMP hits the wires on Friday.

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