AUD/USD Faces Downside Pressure as RBA Pauses Rates and Chinese Data Disappoints"

The RBA rate pause and softer Chinese services data sent the Aussie-dollar lower. Expectations for the Australian dollar to weaken further could grow if they see a much worse slowdown in the economy. Rate hike odds for the RBA are just over a coin flip for the August 1st meeting, so if the outlook deteriorates further, that could pave the way for more AUD downside.
Friday’s expiration of A$1.5 billion of options at a strike price of 0.6700 could lead to some big moves.