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AUD/USD supported above 0.9300 after RBA minutes

FXstreet.com (Barcelona) - The AUD/USD foreign exchange rate is last quoted at 0.9320 off recent session lows at 0.9298 following RBA meeting minutes not expecting more rate cuts soon but still not out off the table.

AUD/USD could extend a corrective move down

“The hourly chart shows indicators below their midlines, having pulled back to them before heading back south, supporting some more slides in the pair in the short term,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “ As for the 4 hours chart, indicators retrace from overbought territory, also supporting at least a bearish corrective movement that can extend down to 0.9230 price zone.”

AUD/USD key technical levels

Bednarik sees support levels at 0.9270, 0.9230 and 0.9190, while resistance levels at: 0.9350, 0.9390 and 0.9430.

AUD/JPY up modestly as traders await RBA minutes

The AUD/JPY rallied Monday on the general “risk on” attitude that was dominant globally. However, the rally faded in the latter part of the session and traders are now hunkering down for RBA-related volatility.
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