Its already July 4 in Australia, but its not officially a holiday – but the market is less liquid than usual and also skittish after yesterday’s drop in the dollar following Glenn Stevens’ joke comment re deliberating for a long time about not cutting rates. markets read this as strongly indicative of a cut in August, but have probably over-reacted.
- AUD/USD has jumped above 0.9100 and 0.9110 – resistance is up ahead now from 0.9125/35
- Support 0.9075/85 and again 0.9025/35
