FxWirePro: AUD/USD breaks below 0.7450 (38.2% Fib), bears tightening their grip post RBA SoMP release
AUD/USD drops from 0.7470 region to break below 38.2% Fib of Jan to April rise at 0.7450. Aussie bears tightening their grip, resume downside following the release of RBA’s Statement of Monetary Policy (SoMP). Latest RBA…
AUD/USD drops from 0.7470 region to break below 38.2% Fib of Jan to April rise at 0.7450.
Aussie bears tightening their grip, resume downside following the release of RBA’s Statement of Monetary Policy (SoMP).
Latest RBA SoMP showed downward revisions to inflation and wage growth forecasts, keeps alive rate cut possibilities.
The risk-off environment has also returned post RBA, as reflected by the uptick in the VIX and lower US 30-Year US Treasury yields.
Markets cautious heading into the US NFP report due later today, which may provide next direction on the US dollar across the board, eventually impacting the pair.
