I did a preview here.
Everyone is expecting more dovish talk as the RBA attemtps to jawbone the AUD lower. AUD/USD is going into the release on its session lows (as of writing, at least) so i expect the market is sitting a little short.
If the minutes are perceived as dovish then an AUD dip is likely to run into buyers trying to take profit on shorts. If the minutes are not overly dovish (perhaps neutral, I don’t see them as being hawkish to any great degree) then the risk is for a run back through 0.9400 to test the offers above 0.9410. There is good size stop loss buying above 0.9425/30. Order book is here
ps. I’ll have yen and euro orders once the fuss around the minutes release has cleared
