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AUD/USD declines from overnight 0.9200 cap

FXstreet.com (Barcelona) – AUD/USD ranged overnight, posting a high at 0.9206, but failed to break resistance at the round number and has declined into the European open, trading at 0.9165 but still up 0.05% on the days trading.

AUD supported by RBA comments

Overnight, the RBA’s Lowe reiterated that intervention couldn’t be ruled out, and that the threshold nevertheless remains fairly high. His speech also highlighted the main economic challenge that the Australian economy now faces as it “can no longer depend on rising terms of trade and favourable demographics” to boost living standards, which will require an offsetting pick up …read more