FXStreet (Mumbai) - Amid an otherwise quiet Asian session, RBA’s policy decision spurred volatility in markets, with the Australian dollar rallying across the board on rates-on hold stance. While the USD/JPY paired traded listless in absence of fresh dataflow as Japan remained closed on a national holiday. Key headlines in Asia RBA keeps rates unchanged at 2%, scope for further easing RBA review: Cut on the table in coming months - HSBC Dominating themes in Asia - centered on JPY, AUD, NZD A low-key affair in Asia, as the Japanese traders were away in observance of Culture Day, and therefore the main market mover this session was the RBA interest rate announcement. Although, RBA brought in no new surprises at its today’s monetary policy decision, the Aussie flew through roof, ignoring the RBA’s further easing bias and cheered the central banks optimistic comments on the Australian economic outlook. Moreover, RBA left the cash rate unchanged at 2%, squashing hopes of many doves who had bet on a rate cut, thus boosting the upside in the AUD/USD pair. The Aussie now trades 0.83% higher at 0.7205 levels. While NZD/USD trades muted near 0.6745 region, unperturbed the strong rally in its OZ neighbour, as markets turn their focus towards the GDT price auction due later today. While the dollar-yen pair traded in a flat-lining around the hourly 200-SMA located at 120.66, fading a spike to 120.85 reached in early Asia. Across the commodity space, gold rebounds from monthly lows and now turns positive, near $ 1137 levels, while oil prices are seen stabilizing somewhat in Asia. The Asian stocks bounced-back after booking heavy losses yesterday, with Australia’s S&P ASX index keeping gains intact post-RBA decision and rallies +1.30% to 5,233. While China’s A50 index gains 0.18% to 9,942. Hong Kong’s Hang Seng advances 0.18% to 22,680. Heading into Europe & the US A data-quiet EUR calendar ahead, with the UK construction PMI is expected to remain the main focus after Monday’s positive surprise delivered by the manufacturing sector in the UK. The activity in the UK’s construction sector is likely to slow in Oct to 58.9 versus 59.9 booked previously. While from the North American session, factory orders data from the US will be published while Fonterra’s dairy price auction results will be also announced later in the session. Just couple of hours before NY close, ECB President Mario Draghi is scheduled to speak at the Opening of the European Cultural Days 2015 organized by the ECB in Frankfurt, Germany. EUR/USD Technicals Valeria Bednarik, Chief Analyst at FXStreet explained, “Short term, the 1 hour chart shows that the price hovers around a horizontal 20 SMA, whilst the technical indicators maintain a neutral stance. In the 4 hours chart, the price has been consolidating above a mild bearish 20 SMA, while the Momentum indicator has lost its negative slope after correcting oversold conditions, but is far from supporting a rally, and the RSI indicator heads lower around 50. The pair has been contained by selling interest around 1.1080/90 ever since breaking lower, which means only above the level the outlook will be more constructive, at least, short term.” For more information, read our latest forex news.