- AUD/USD back at 0.7810, where it was trading before the RBA cut rates by 25 bps
- The Aussie got under a lot of pressure ahead of the rate decision, which suggests specs were already positioning themselves for a rate cut, hence the weak reaction
- Further, the USD had a very poor day in general, weaking against most G10 currencies
- This has left short-term specs and momentum players who sold sub-0.78 covering their positions
- Immediate resistance now noted at 0.7850/60; stops resting above
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