AUD/USD little changed near 0.7675 on RBA’s steady policy

As widely expected the RBA kept its monetary policy steady from last October meeting, providing little impetus to the AUD/USD pair.

AUD/USD: RBA statement – key

Currently, the AUD/USD pair trades modestly flat at 0.7675, having bounced-off a dip to daily lows of 0.7667 struck pre-RBA announcement. The Aussie pays little attention to the RBA’s status-quo, with the central bank maintaining a neutral stance, reiterating almost the same seen in the October meeting statement.

RBA left the official cash rate (OCR) unchanged at a record low of 1.50%, noting that the rate decision remains consistent with sustainable growth in the economy and achieving the inflation target over time. While on the AUD level, the central bank reiterated that a stronger AUD may complicate economic adjustment.

Markets continue to digest the RBA decision, as focus shifts towards tomorrow’s Aus retail sales data and RBA Kent’s speech for further momentum on the Aussie.

AUD/USD Levels to watch   

The pair finds the immediate resistance at 0.7691 (daily high) above which gains could be extended to the next hurdle located at 0.7713 (3-week high) and 0.7736 (Sept 8 high). On the flip side, the immediate support located at 0.7659/53 (5 & 10-DMA). Selling pressure is likely to intensify below the last, dragging the Aussie to 0.7608 (50-DMA) and below that at 0.7554 (100-DMA).