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Aussie lost about 85 pips yesterday with a daily range of 115 pips. Most losses came in Asian session after the release of dovish monetary policy meeting minutes. Australian inflation report next week will be a big one and will likely determine whether the RBA will cut cash rate in August.
The decline stalled near 0.75, reinforced by 100 DMA just below. A convincing break of the support could send the pair to 0.74 (50 DMA) and then 0.73 (June lows, 200 DMA). 0.7550 may now act as a resistance.
The decline stalled near 0.75, reinforced by 100 DMA just below. A convincing break of the support could send the pair to 0.74 (50 DMA) and then 0.73 (June lows, 200 DMA). 0.7550 may now act as a resistance.