The FXMarketAlerts Team shares that AUD/USD is now eyeing the 0.7720 low, with the pair weighted down by falling commodities and RBA rate cut expectations.
“AUD/USD at 0.7777/79, running into selling interest ahead of 0.7800. With focus on 5-half year lows of 0.7720. Then 0.7700 handle. RBA's 0.75 level - then psychological 0.7000.”
“Focus on RBA decision next week, markets pricing 65% of cut next Tuesday."
"Interesting to note that markets now pricing in more than 2 25bps rate cut from 2.50% to 2.00% - looking for 61bps of cuts in next 12 months. So possible sub 2.00% RBA Cash Rate?