AUD/USD ticks higher as RBA said terms of trade have been stronger than earlier expected
|- The RBA kept interest rates unchanged as expected, but upgraded language on terms of trade.
- The AUD/USD is now reporting marginal gains, having recovered from the session lows after the RBA rate decision.
The AUD/USD pair jumped 16 pips to a session high of 0.7365 after the Reserve Bank of Australia (RBA) kept interest rates unchanged at a record low of 1.5 percent, as expected, but upgraded the language on international trade.
The central bank reiterated that the international trade has been stronger than earlier expected, and more importantly, excluded the sentence stating the terms of trade are expected to decline over time.
The gains, however, could be capped by RBA's cautious tone on household income, high debt levels and wage growth. Notably, the central bank cited household consumption as a continued source of uncertainty.
All-in-all, the policy statement does little to alter expectations of the interest rate lift off in 2020.
AUD/USD Technical Levels
AUD/USD
Overview:
Today Last Price: 0.736
Today Daily change: 7.0 pips
Today Daily change %: 0.0952%
Today Daily Open: 0.7353
Trends:
Previous Daily SMA20: 0.7262
Previous Daily SMA50: 0.7183
Previous Daily SMA100: 0.7242
Previous Daily SMA200: 0.7421
Levels:
Previous Daily High: 0.7394
Previous Daily Low: 0.7318
Previous Weekly High: 0.7345
Previous Weekly Low: 0.7199
Previous Monthly High: 0.7345
Previous Monthly Low: 0.7072
Previous Daily Fibonacci 38.2%: 0.7347
Previous Daily Fibonacci 61.8%: 0.7365
Previous Daily Pivot Point S1: 0.7316
Previous Daily Pivot Point S2: 0.7279
Previous Daily Pivot Point S3: 0.724
Previous Daily Pivot Point R1: 0.7392
Previous Daily Pivot Point R2: 0.7431
Previous Daily Pivot Point R3: 0.7468
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