• AUD/USD hovered near two-week low on Monday as investors digested comments from Reserve Bank of Australia Governor Michele Bullock.
• RBA Governor Michele Bullock said on Monday that Australia’s economy remains on solid footing, with slowing inflation and a robust labor market providing scope for further policy easing if circumstances require.
• The RBA has adopted a measured approach to policy easing, trimming rates in February, May, and August to 3.6%, with the pace of further cuts contingent on the flow of economic data.
•Markets expect the RBA to leave rates unchanged at its September meeting, while pricing in about a 75% chance of a rate adjustment in November
• At GMT 08:21 Australian dollar was trading at down 0.01 % at $0.6588 against the U.S. dollar.
• Immediate resistance is located at 0.6661 (Sep 18th high), any close above will push the pair towards 0.6711(23.6fib)
• Support is seen at 0.6584 (SMA 20) and break below could take the pair towards 0.6553(38.2% fib).
Recommendation: Good to sell around 0.6600 with stop loss of 0.6700 and target price of 0.6520
