- Aussie supported on the back of RBA minutes and Governor Lowe’s comments.
- Minutes suggested that the RBA may remain in a wait and see mode in the upcoming meetings. RBA’s Lowe noted that the current AUD level is suitable for the economic growth.
- AUD/JPY extending bullish drift from yesterday, eyes 200-DMA at 80.17.
- Techs are heavily bullish, break above 200-DMA could see test of 81.51 levels.
- Major support levels - 79.14 (5-DMA), 78.82 (10-DMA), 78.03 (20-DMA), 77.82 (100-DMA)
- Major resistance levels - 80.17 (200-DMA), 80.78 (Week of July 18 high), 81, 81.51 (Week of July 11 high)
Recommendation: Good to go long on dips around 79.80, SL: 79.15, TP: 80.15/ 80.75
