I shared some thoughts on that earlier today here and as highlighted there, the short-term support near 0.6700 appears to be giving way now. That is seeing AUD/USD fall to its lowest level in two months at around 0.6680-85 now, down 0.6% on the day.
The RBA has been one of the less convincing players in the whole "inflation is sticky, so we are going to hike interest rates even more" story and one can argue that today is another tick in that box.
As such, the aussie is paying the price and we could see the currency pressured towards the next area of key technical support against the dollar.
That will come from the December lows around 0.6630-60 with the 50.0 Fib retracement level of the swing higher since October also in play, seen at 0.6663.
Besides the drop from the aussie, major currencies are mostly little changed with the dollar holding more mixed on the session amid slightly higher equities and lower bond yields on the day.
