AUD/USD finding a few friends down around 1.0300

Author: Pete Jackson | Category: News

Real money i’m told have been supporting the pair towards the lows around 1.0295 earlier, but there’s also the cloud base at 1.0292 to add some technical support ahead of fib retracement and Sept 7 lows around the 1.0270/75 level.

Although perhaps some of the public hadn’t expected a cut today from the RBA, the market had actually priced in about 80% of the move

Worth keeping an eye of a breakdown of 80.00 in AUD/JPY, and  a break up through 1.2550 in EUR/AUD, as triggers to a deeper correction in AUD/USD

AUD’s presently sitting around 1.0308, with crosses around 80.46 and 1.2517