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AUD/USD pressured pre-Yellen, RBA in focus

  • AUD/USD slides to test 0.7741 as greenback gains pre-Yellen

  • 0.7741 = last week's low (Feb 17)

  • Stops subdued below 0.7740

  • More support 0.7721 (Feb 13 low)

  • 0.7762-0.7807 = Asia range

  • Another 25bp RBA rate cut on Mar 3 could weaken AUD/USD to/through 0.7627

  • 0.7627 = Feb 3 low, after RBA cut cash rate to 2.25%. 0.7644 = Feb 12 low 

 

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