Australian Dollar continued to fall after the RBA held rates at 7.25% and release of a dovish accompanying statement. The RBA opened the door to rate cuts with the comment ‘scope to move towards a less restrictive stance of monetary policy in the period ahead is increasing.
Tech view
AUD is expected to be mixed note for the day . trading range is expected between 0.9141 -0.9190 levels for the day. support is seen at 0.9135 levels and holds resistance at 0.9195 levels for the day. Momentum hints for slight upward movement yet the ripples of chart pattern does not confirm the uptrend.
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