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    AUD/USD ascends after RBA statement

    © Dukascopy Bank SA
    "Further easing of policy may be appropriate over the period ahead, in order to foster sustainable growth in demand and inflation consistent with the target." 
    - RBA (based on The New Zealand Herald)


    Pair's Outlook 
    There were no surprises with AUD/USD over the day, as the Aussie declined against the US Dollar. The initial support at 0.7636 was easily pierced, but the Australian Dollar managed to get only halfway to the 0.7534 level. Even though the technical studies suggest a negative outcome for the Aussie today, the pair is still likely to edge up because of an upward momentum amid the RBA leaving the interest rates unchanged. The nearest resistance level lies at 0.7636, though there is a high chance of it being breached. A reliable cluster rests around 0.7710. 

    Traders' Sentiment 
    Market sentiment remains bullish at 67% (yesterday 69%), whereas 48% (previously 37%) of all orders are set to purchase the Aussie.
    © Dukascopy Bank SA

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