USD is showing some strength across the board today.

Aussie appears to be the heaviest of major pairs, with RBA governor Stevens' comments not helping it. The pair will likely remain in recent range until RBA meeting on May 5. 50 DMA is now running right through the middle of this range while 100 DMA is nearing from above.

Technically, the most likely direction is down, but if RBA fails to deliver in May, that may well be preceded by a deeper pullback.

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