The Australian dollar struggles as the RBA’s hawkish meeting minutes put a cap on risk appetite. The price action has fallen back to the consolidation area around 0.6800 from late December. The RSI’s double dip in the oversold zone has attracted some buying interests. 0.6930 is the closest hurdle and the bulls will need to lift the top of a previously faded rebound at 0.7010 before they could turn short-term sentiment around. A drop below the fresh support of 0.6810 would extend the correction to the year’s low at 0.6700.
