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AUD/USD Price Analysis: Corrects from multi-month top, downside seems limited ahead of RBA on Tuesday

From fxstreet.com

The AUD/USD pair attracts some intraday sellers in the vicinity of the 0.6700 mark, or over a five-month top touched during the Asian session on Monday and drops to a fresh daily low in the last hour. Spot prices currently trade around the 0.6660 area, down just nearly 0.10% for the day, and the downside is sponsored by a modest US Dollar (USD) uptick. Investors turn cautious in the wake of a further escalation of tensions in the Middle East and fears of another COVID-19-like respiratory illness outbreak in China cap the recent upswing in the global equity markets. This, in turn, is seen lending some support to the ... (full story)

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