The Australian dollar remains underwater as the RBA minutes say no to a rate hike before 2024.
The sell-off has accelerated after the Aussie fell through 0.7410, the last stronghold from a previous bounce. The pair is sliding along the 20-day moving average, and the downtrend is heading towards the next support at 0.7230 from the daily chart.
However, a repeatedly oversold RSI may prompt sellers to take some chips off the table, causing a temporary rebound. 0.7440 is likely to cap the buyers’ push.
