AUD drifting lower as Stevens continues to talk

Lots of headlines hitting the newswires from Glenn Stevens’ talk in Canberra and the general effect has been AUD-negative with AUD/USD breaking below short-term chart support at .9760. He hasn’t said anything bearish but he’s definitely less hawkish than usual giving the impression that rates will be on hold for a while to come.

Next short-term chart support for the AUD/USD is at .9735.