I shared some ideas on that earlier at the moment right here and as highlighted there, the short-term help close to 0.6700 seems to be giving method now. That’s seeing AUD/USD fall to its lowest degree in two months at round 0.6680-85 now, down 0.6% on the day.
The RBA has been one of many much less convincing gamers in the entire “inflation is sticky, so we’re going to hike rates of interest much more” story and one can argue that at the moment is one other tick in that field.
As such, the aussie is paying the value and we might see the foreign money pressured in direction of the following space of key technical help towards the greenback.
That can come from the December lows round 0.6630-60 with the 50.0 Fib retracement degree of the swing increased since October additionally in play, seen at 0.6663.
In addition to the drop from the aussie, main currencies are principally little modified with the greenback holding extra blended on the session amid barely increased equities and decrease bond yields on the day.
