We still see AUDUSD moving lower and if the currency pair were to consolidate below key support at 0.71 this could lead to increased downward momentum. We await US durable good orders and consumer confidence data releases tomorrow in case of any resultant price action. However, we believe the major catalyst for AUDUSD would be the upcoming RBA rate cut and US stimulus or a risk off event such as significant drop in equity markets.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.