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Aussie dollar in recovery mode after the RBA-led tumble

Earlier today the Reserve Bank of Australia cut interest rates by 0.25% 3 May 2016

Cue the understandable AUD collapse but after holding the 0.7550 area I highlighted earlier the pair has taken full advantage of the USD-neg sentiment this morning to rebound to 0.7630.

Currently 0.7618 we can expect more sellers into 0.7650. Still keep an eye on AUDJPY which has held 80.00 so far but yen demand expected to re-appear.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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