It looked very much as if someone got some early info on the rate cut, as AUD/USD fell from .9760 to .9745 in the minute before the actual announcement, but the market had priced in a 25bps cut and now that it’s been confirmed, the short-covering can recommence.
Stops now triggered above .9775 to a high of .9789 but I’d expect there to be some consolidation now as it was after all a rate cut!
