FxWirePro: AUD/USD slumps to day's lows at 0.7113, RBA minutes weigh
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 lo…
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
