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AUD/USD move higher has been relatively restrained after RBA stayed on hold

Tuesday, April 7, 2015 4:48 AM UTC

Knee-jerk pop to 0.7697 was sold into by macro funds
RBA retained dovish bias and maintained bearish view on AUD
RBA wants AUD/USD lower and will likely cut rates in coming months to help
Support now at 0.7605/10 where it was trading before RBA decision
Double-top has formed just ahead of 0.7700 with break targeting 0.7785

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AUD/USD move higher has been relatively restrained after RBA stayed on hold

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