AUD/USD drifts higher above 0.6710 following RBA meeting minutes

AUD/USD holds positive ground near 0.6715 after the release of RBA meeting minutes.
RBA members will examine further data to evaluate risk balance and how to balance it in policymaking.
The US Building Permits and Housing Starts for November will be due later on Tuesday.

Lallalit Srijandorn FXStreet

The AUD/USD pair attracts some buyers during the early Asian session on Tuesday. The pair currently trades near 0.6715, up 0.16% for the day. The Reserve Bank of Australia (RBA) released the Minutes of its December monetary policy meeting on Tuesday, suggesting that the central bank saw encouraging signs of progress on inflation and this needed to continue.

The RBA members agreed that the case to leave the cash rate target unchanged at this meeting was the stronger one. Furthermore, the central bank will monitor the incoming data to alter the economic outlook and the evolving assessment of risks when setting policy. The RBA members agreed that inflation expectations remained consistent with the inflation target.

Moving on, traders will focus on the US housing data, including Building Permits and Housing Starts on Tuesday. On Wednesday, the Australian Westpac Leading Index for November will be released.

AUD/USD

Overview
Today last price	0.6714
Today Daily Change	0.0010
Today Daily Change %	0.15
Today daily open	0.6704

Trends
Daily SMA20	0.661
Daily SMA50	0.6481
Daily SMA100	0.6461
Daily SMA200	0.6577

Levels
Previous Daily High	0.6735
Previous Daily Low	0.669
Previous Weekly High	0.6729
Previous Weekly Low	0.654
Previous Monthly High	0.6677
Previous Monthly Low	0.6318
Daily Fibonacci 38.2%	0.6718
Daily Fibonacci 61.8%	0.6708
Daily Pivot Point S1	0.6684
Daily Pivot Point S2	0.6665
Daily Pivot Point S3	0.6639
Daily Pivot Point R1	0.6729
Daily Pivot Point R2	0.6755
Daily Pivot Point R3	0.6775

Author

Lallalit Srijandorn

FXStreet

Lallalit Srijandorn is a Parisian at heart. She has lived in France since 2019 and now becomes a digital entrepreneur based in Paris and Bangkok.

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