FxWirePro: AUD/USD edges higher after RBA’s guarded comments

• AUD/USD edged higher  on Friday as investors digested  RBA Governor Bullock’s guarded remarks

• On Friday, Governor Michele Bullock emphasized the RBA’s cautious approach to easing its 3.65% cash rate, pointing to lingering inflation risks.

• Bullock stressed that policy decisions will remain data-dependent, with key reports on jobs, inflation, and household spending due ahead of the November 4 meeting..

• Following last week’s hawkish tone, markets have scaled back expectations for an imminent policy easing by the RBA.

•Futures now imply only around a 40% chance of a quarter point reduction in the 3.65% cash rate in November, when it was almost fully priced just a month ago.

• Immediate resistance is located at 0.6575(50%fib), any close above will push the pair towards 0.6599 (SMA 20).

• Support is seen at 0.6523(38.2%fib) and break below could take the pair towards 0.6506 (Lower  BB).

 Recommendation: Good to sell around 0.6560, with stop loss of 0.6600 and target price of 0.6500