FxWirePro: AUD buoyed on RBA status quo, AUD/USD spikes higher from lows of 0.7633

• AUD/USD spikes higher from session lows at 0.7633, retakes 5-DMA at 0.7650.
   
• AUD buoyed after RBA held policy unchanged, said higher commodity prices have supported a rise in the trade surplus. 
   
• The bank did state that the inflation is expected to remain low for some time and did not sound seriously concerned by the strength in the Aussie dollar.
   
• Technical studies in the pair support upside, ADX supports trend higher. 

Support levels - 0.7650 (5-DMA), 0.7646 (78.6% Fib), 0.76, 0.7577 (Feb 2 low)

Resistance levels - 0.77 (psychological level), 0.7716 (88.6% Fib), 0.7755 (trendline)

TIME  TREND INDEX  OB/OS INDEX    

1H          Bullish                 Neutral       
4H          Bullish                 Neutral       
1D          Bullish                 Overbought        
1W         Bullish                 Neutral      

Call update: Our previous call (http://www.econotimes.com/FxWirePro-AUD-USD-breaks-major-trendline-resistance-at-07625-good-to-go-long-on-dips-521892) has hit TP1.

Recommendation: Book partial profits at highs, raise trailing stops to 0.7630, hold for 0.77/ 0.7750.