Overnight news (view) - RBA has room to cut, AUD overvalued

This was out overnight but I haven't seen it covered, so just doing a catch up

• The Reserve Bank of Australia has more room than its counterparts to lower its benchmark Interest rate
• AUD is "overvalued"
• AUD will underperform other commodity currencies
• Sees support around 0.72, a break below could "accelerate falls."
• Resistance, around 78 cents (citing RBA jawboning at around that 2016 high)

Comments from UniCrediit's Vasileios Gkionakis head of global foreign-exchange strategy

• "The margin for conventional monetary policy easing is much higher in Australia compared to Canada and Norway," Gkionakis said in a telephone interview last week. "So from that respect, I can easily see the markets pricing more rate cuts by the RBA compared to Bank of Canada and the Norges Bank."

via Bloomberg