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Aussie rebounding slightly after recent decline

Tuesday, Jun 28 2016
There were no data releases from the Australia today. Fallout from the UK Brexit vote, as was the case on Friday, was the chief catalyst behind the steep decline, not only in the Aussie but other risk assets. “Risk assets took another pounding overnight as the UK decision to leave the EU continues to rock financial markets,” said Rodrigo Catril, currency strategist at the NAB.
“Equity markets on both sides of the Atlantic ended the day sharply lower, the British pound fell another 3.6% and demand for safe haven assets boosted gold and dragged core global yields lower.”Catril suggests that UK markets “continue to drive global sentiment”, noting that a “lack of UK political leadership at a time of market disarray is doing little to reassure markets.”
 
Aussie is currently being traded few points above 0.7350 level. Pair is likely to find support around 0.72 handle and resistance above 0.75 level.
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