Despite the hawkish tone from the RBA, technical indicators continue to suggest the Aussie dollar looks like a sell. We saw the 200 day moving average rejected around 0.7555, followed by a run straight through the 23.6% Fibonacci retracement. A sustained break below 0.7400 paves the way for a return to late November lows around 0.7310.
USD/CHF is testing the 200 day moving average around 0.9950. A break above this level will pave the way for a retest of parity.