RBA keep rates unchanged
The RBA kept rates unchanged in the new trading day The announcement initially sent the pair higher.
Since then the action has not exactly been steady as the price tumbled back lower and now back higher. At the low the pair tested the 50% retracement level at 0.7603. The correction off that high has just moved up to the 100 hour MA (at 0.7646) where sellers have stalled the rise – at least on the first test as risk could be defined and limited.