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May 28 - 08:36 PM

AUD/USD - Steady Around 0.6620 As RBA's Lowe Speaks

By John Noonan  —  May 27 - 08:40 PM
  • RBA's Lowe said Australia's economic downturn may not be as bad as feared nS9N2CO01U

  • Lowe said the current cash rate at 0.25% is about as low as it can go

  • Fiscal policy will have to play a greater role than in the past

  • Unlike RBNZ, the RBA not looking at negative rates as an option

  • AUD/USD steady around 0.6620 after trading to 0.6612 earlier

  • Key today will be moves in Asian equity markets after Wall Street surge

  • Resistance in the AUD/USD is found at the 200-day MA at 0.6658

  • Support comes in at 10-day MA at 0.6561










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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