AUD/USD has taken a turn for the worst, pressured below the rising 200 sma on the 15 min sticks at 0.7527 with resistance there marking the highs post the RBA minutes and price is now on the back-foot. RBA minutes: Low inflation provides scope to ease further Markets were originally in demand of the Aussie on the bullishness within the minutes as members of the board were optimistic about economic growth and without there being the immediate need to cut interest rates. PBOC sets USD/CNY at 6.5079 vs 6.4913 last fix However, the door is open for action should inflation require it. Also to note, the RBA minutes explained that the past fall in the Aussie was helping to re-balance the economy to non mining activity and thus it will be keenly monitored b the bank and risks of intervention, or indeed a rate cut, could be what is required to lower the value of the Aussie to more comfortable and beneficial levels. AUD/USD levels Also, technically, we are toppy levels around the 0.760 handle and this could be tough level of resistance given it was the key supporting area a year ago back in Feb 2015. The price is now through and below the 0.75 handle and leaving the pivot at 0.7531 over the horizon. The 20 sma on the hourly is now acting as a resistance at 0.7496 with a near term target for the downside at the 200 sma at 0.7445. For more information, read our latest forex news.