AUD still edging lower into RBA
The AUD/USD is a bit tricky to trade at the moment with a strong downtrend in control but last night’s price action suggesting that a retracement might be getting started.
Add in to the mix the minor risk event that is the RBA 🙂 and we are certainly left with a conundrum.
I’m thinking that an unexpected 25 bps cut would see the AUD/USD back below .9650 and that ‘no change’ will see a mild relief rally towards .9775/85.
When is that likely to come through.. want to try and grab back a dud pick with the AUD I made :/
02:30 Sydney time