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AUD/USD: Key levels holding up so far - Societe Generale

FXStreet (Guatemala) - Kit Juckes, Global Head of Currency Strategy at Societe Generale explained and noted that the RBA left rates on hold - and will keep them there.

Key Quotes:

"The market was primed for an even more dovish bias and AUD/USD has bounced off 0.8650 yet again”.

“Psychologically, this is the key level whose (inevitable, it would seem) break will open the way for the next leg of the currency's fall towards AUD/USD 0.80”.

“Retail sales were very strong, up 1.2% m/m, but that was driven by a surge in demand for the new iPhone and the trade deficit was wider than expected."

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