AUD/USD: RBA leaves key interest rate unchanged at 1.5%


AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD declined 0.3% against the USD and closed at 0.7661.

LME Copper prices declined 0.2% or $13.5/MT to $5894.0/MT. Aluminium prices rose 0.5% or $9.0/MT to $1917.5/MT.

In the Asian session, at GMT0300, the pair is trading at 0.7665, with the AUD trading a tad higher against the USD from yesterday’s close.

Earlier today, the Reserve Bank of Australia (RBA), at its latest monetary policy meeting, opted to leave the key interest rate steady at 1.5%, meeting market expectations.

The pair is expected to find support at 0.7644, and a fall through could take it to the next support level of 0.7624. The pair is expected to find its first resistance at 0.7686, and a rise through could take it to the next resistance level of 0.7708.

Moving ahead, market participants will await the release of Australia’s AiG performance of services index for June, scheduled to release overnight.

The currency pair is trading between its 20 Hr and 50 Hr moving averages.

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