AUD/USD looks vulnerable - Scotiabank

FXStreet (Guatemala) - Eric Theoret, CFA, CMT Currency Strategist at Scotiabank explained that AUD/USD is underperforming, having faded its gains following the RBA policy decision and statement release.

Key Quotes:

"The RBA kept the Cash Rate flat at 2.00%, as expected, and made remarkably few changes to the statement tone despite the intensification of concerns relating to China."

"Momentum indicators are bearish and the RSI has broken back below 30 into oversold territory."