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AUD/USD uninspired around 0.7250 post-RBA

  • The RBA’s on-hold policy strategy leaves little room for the AUD/USD to move post-SoMP.
  • Market flows remain tepid heading into Friday’s Pacific-Asia session.

The AUD/USD is trading into 0.7260, unmoved by the Reserve Bank of Australia’s (RBA) latest Statement of Monetary Policy.

The RBA dropped their latest Monetary Policy Statement early Friday, and the central bank’s stance has given Aussie traders little to chew on, with the RBA maintaining their no-movement stance on interest rates or monetary policies in general. The Aussie central bank has gone over two years without laying a finger on interest rates, and the rut that the RBA finds itself buried within looks set to remain for some time.

The central bank noted that while inflation and GDP growth are expected to remain “above trend”, wages remain frustratingly lower than hoped, and trade tensions from the US-China tariff spat remains a significant headwind for confidence looking forward. 

AUD/USD Technical Levels

AUD/USD

Overview:
    Last Price: 0.7258
    Daily change: 4.0 pips
    Daily change: 0.0551%
    Daily Open: 0.7254
Trends:
    Daily SMA20: 0.7136
    Daily SMA50: 0.716
    Daily SMA100: 0.7266
    Daily SMA200: 0.7474
Levels:
    Daily High: 0.7304
    Daily Low: 0.7246
    Weekly High: 0.726
    Weekly Low: 0.705
    Monthly High: 0.724
    Monthly Low: 0.702
    Daily Fibonacci 38.2%: 0.7268
    Daily Fibonacci 61.8%: 0.7282
    Daily Pivot Point S1: 0.7233
    Daily Pivot Point S2: 0.7211
    Daily Pivot Point S3: 0.7175
    Daily Pivot Point R1: 0.729
    Daily Pivot Point R2: 0.7326
    Daily Pivot Point R3: 0.7348

 

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