FxWirePro: AUD/USD slumps to day's lows at 0.7113, RBA minutes weigh
Tuesday, September 15, 2015 5:27 AM UTC
- AUD/USD opened Tuesday 0.7139, traded 0.7113-66 in Asia; and was last at 0.7113
- Aussie held gains in early trading, defied sliding commodity and Chinese stock prices and hit a two-week peak of 0.7166 after Tony Abbott lost to Turnbull in a leadership challenge
- Malcolm Turnbull vowed to set a new economic agenda, economists expect the new leader to boost sentiment
- But the pair soon buckled on the back of the RBA minutes and plunged some 25 pips on the knee jerk reaction
- AUD/USD is currently trading at 0.7114, with immediate support by hourly 55EMA at 0.7103 and resistance at 0.7165 (day's high)
- Markets reluctant to make big bets ahead of a important policy meeting by the U.S. Federal Reserve later in the week
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