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AUD/USD knee jerked towards 0.8725 on RBA

FXStreet (Moscow) - AUD/USD moved towards 0.8725 after having been consolidating with bearish bias at 0.8755 ahead of RBA’s monetary policy decision; currently, the pair is trading at 0.8739.

RBA wants cheaper Aussie

RBA has just announced its monetary policy decision. Just as it was expected the Bank left its policy rate unchanged, while the accompanying statement was adjusted to reflect the central bank’s concerns Ausise strength that was considered too high by historical standards, despite its recent fall. AUD/USD rushed to the South and reached 0.8725 as investors took the statement as dovish. From the technical point of view, Aussie needs to break above / below 0.8700 to extend to movement towards demand on approach to 0.8650.

What are today’s key AUD/USD levels?

Today's central pivot point can be found at 0.8734, with support below at 0.8681, 0.8600 and 0.8547 with resistance above at 0.8815, 0.8868 and 0.8949. Hourly Moving Averages are bearish, with the 200SMA bearish at 0.8757 and the daily 20EMA bearish at 0.8896. Hourly RSI is bullish at 50.

RBA keeps policy steady, neutral rhetoric

As widely expected, the RBA left rates unchanged at 2.5%, while keeping its rhetoric very much at a neutral level, although still highlighting that the AUD exchange rate remains high by historical standards, despite the sharp fall since the last meeting.
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