AUD: Looking to book some profit on intraday rallies ahead of risk events
- Plenty of risk events later today so I’m looking to reduce my AUD/JPY long position on any rallies towards 89.75;
- AUD/USD is in short-term holding pattern .8960/.9015 but the big levels to watch are still .8890/.9070;
- Bit surprising that AUD/NZD edged lower despite a stronger AUD everywhere else;
- EUR/AUD could test lower end of consolidation range towards 1.4350 now that we’ve had daily close below 1.4750 pivot;
- RBA widely expected to stay on hold and keep language unchanged;
- Retail sales and China non-mfg PMI might add some volatility.