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Jun 13 - 07:55 PM

AUD/USD - Slips Back, "On Hold" Fed Matches Higher-For-Longer RBA

By Krishna K  —  Jun 13 - 07:10 PM
  • AUD/USD steady after 0.4% fall Thu; slips back to middle of its recent range

  • Undermined by Fed's hawkish tone Wed; soft U.S. PPI , lower yields ignored

  • Soft U.S. CPI , PPI indicate June 28 PCE will show softening price pressures

  • Weak yuan, lower copper andd gold prices weigh on AUD sentiment

  • Downside limited; robust AU jobs data reinforces higher-for-longer RBA

  • Broad 0.6580-0.6710 range likely as Fed also pushes out start of rate cuts

  • Break of either side extends to 0.6550 & 0.6750 respectively; play the range

  • Interim supports 0.6625, 0.6600-05, resistance 0.6675-80

  • Thu range 0.6675-0.66265

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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