Overnight we had the Australian cut interest rates as expected by the market and they also indicated that they were "one and done" for the time being which lead to Aussie dollar rallying overnight to the top of the highlighted in our tradingview chart.
At the same time we have the spike higher meeting an area of resistance highlighted around 0.6980 to 0.70 and both and stochastics also lining up to show the pair are in extreme overbought areas on 4 hourly with stochastics already rolling over to head lower.
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