AUD/USD licks its wounds around 0.6620 after falling the most in a week drowned by the Credit Suisse turmoil the previous day. The Aussie pair’s latest moves could be linked to the major policymakers’ rush to placate the financial market fears.
Although the pre-data anxiety probes AUD/USD bears amid hopes of upbeat Aussie data, the risk barometer pair is likely to remain depressed, after showing an initial reaction to the actual outcome, unless witnessing too optimistic Aussie employment numbers. It should be noted that the RBA Bulletin must avoid dovish words to defend the pair’s latest corrective bounce.
The reason for the AUD/USD pair’s likely weakness could be linked to comparatively more hawkish Federal Reserve (Fed) bets despite the latest financial market fears, as well as the broad weakness in the pair due to its risk-barometer status.
Technically, a U-turn from the 1.5-month-old resistance line, around 0.6670 by the press time, keeps the AUD/USD bears hopeful of revisiting the monthly low of 0.6564.
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