No surprises as the RBA leaves the cash rate on hold.
Aussie reacted with a small gain to new session highs, Nothing spectacular as yet with the statement being viewed as fairly tepid and neutral .
As I wrote in my post last week AUDUSD is capped my some strong fibs above around the 0.7730 area. I will re-post the chart below to demonstrate how successful the level actually was at halting the rise when viewed together with the (2nd) current chart .
AUDUSD-H4 31 October
We are going sideways in a flag pattern for now and my view hasn’t changed. 0.7730-35 to the upside and 0.7620 below form the points I am watching for a break. Difficult to trade in-between these levels unless you are playing small intraday moves. No guessing what I did when price hit the upper level and reversed (yellow arrow) shown on the chart below .
AUDUSD-H1 current
Philosophy: "Trading rules.....it most certainly does"
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