AUD: No surprises expected from RBA minutes
I got stopped out of my AUD/USD longs at break-even and am still running a much smaller AUD/JPY long with a stop below 90.00. The big risk event for AUD traders will be the release of the RBA minutes from the June meeting, when no change was made to official interest rate policy.
I’m not expecting any surprises but the market is nervous and prone to sharp spikes either way. Sentiment remains very AUD-bearish but AUD short-positioning is nearing extreme levels. The levels to watch in the AUD/USD are a pretty wide .9430/.9630 and we could well see prices near either/both edge(s) in coming sessions.