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AUD/USD above .7100 after optimistic RBA, but medium-term downtrend intact

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 7, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    In what was otherwise a very quiet overnight session, the Australian dollar edged higher as the Reserve Bank of Australia (RBA) maintained a neutral bias in its monetary policy meeting. As widely expected, the RBA left its main interest rate unchanged at 2.0% and did not make any other changes to monetary policy. In its essentially unchanged statement, RBA head Glenn Stevens noted that “The global economy is expanding at a moderate pace” and that “global financial conditions remain very

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