In the shadow of stock market sell-off, the first RBA meeting for the year ended without shocks. The bank held cash rate on the record low once again and remains cautiously optimistic. In the past seven days, AUD/USD gave back nearly half of the gains since December. 0.78 - 0.7825 is the initial support area to watch. 0.795 - 0.80 should now act as a resistance.
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