The theme of US trading has been persistent AUD/USD selling. From around 0.9360 at the start of US trading, the pair has slumped to 0.9327.
That matches the low from May 15. Expect to see stops below and more below 0.9320.
AUD/USD hourly
The minutes of the May RBA meeting and comments from the RBA’s Debelle are due in the upcoming session.
Today is another example of the failure of the Australian dollar to rally on good-news days. The moderate head and shoulders patter on the chart also points to a dip below 0.9300.
