Technical Analysis

AUD/USD touched the lowest since Jan 4 earlier today The RBA was downbeat on economic and inflation prospects for the Australian dollar in a report today. It fell as low as 0.7061 but has rebounded to 0.7092. Morgan Stanley says there is scope for further losses. Declining yield and interest rate differentials stand in contrast
Back below 100 hour MA The AUDUSD has retraced toward the day’s midpoint at 0.72284. The low just reached 0.7229 on the current hourly bar (trade at 0.7233).  The pair started the day running lower ahead of the RBA decision. The statement was perceived to be “less dovish” than expected (or shorts were in), and
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Leaners winning As the dollar was getting sold into the fixing, I posted: As the London month end fixing runs into some dollar selling (and stocks move higher), the AUDUSD is tracking higher and getting closer to some pretty good resistance. The 200 day is currently at 0.72955. A trend line connecting the recent highs