AUD/USD: unchanged on in low volume FX post same-same RBA minutes

AUD/USD: quiet in low volume FX with China out.
AUD/USD unchanged on 'same-same' RBA minutes.

Ross J Burland FXStreet

While the RBA minutes were not giving us anything new, as expected, the AUD/USD remains sideways within a range of 0.7900 and 0.7930 established overnight. Currently, AUD/USD is trading at 0.7916, up 0.08% on the day, having posted a daily high at 0.7922 and low at 0.7905. The RBA minutes were a complete repeat of the same rhetoric and overcharge, in some cases, that we have heard and read many times over from recent announcements from the Central Bank.

RBA minutes: wage growth remained subdued

The Aussie was unchanged while markets do not expect any change from the RBA in the foreseeable future and with low volumes with China being out, on the back of a dull day with the US and Canada out, we are in for a quiet day ahead.

AUD/USD levels

Valeria Bednarik, chief analyst at FXStreet explained that technically, the pair bounced again on an approach to the 0.7890 level, a major Fibonacci support: "The level stands for the 38.2% retracement of the December/January rally, keeping the downside limited as long as the pair remains above it. The lack of volatility has left the intraday picture neutral, as the pair is below a bullish 20 SMA, while technical indicators hover around their mid-lines with limited directional strength."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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