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AUD/USD falls after RBA keeps rates on hold at 4.35%

The Reserve Bank of Australia (RBA) has maintained their 4.35% OCR today. This was the expected outcome from the RBA and it has sent the AUD/USD lower. The technically weak close on Friday, which was noted here yesterday has therefore been endorsed by a further fall towards the 0.6500 handle. The AUD/USD had closed in the US last night at 0.6560, which is exactly where it had closed on Friday. The reaction to this has seen the Aussie fall, because the RBA have also dropped their tightening bias, when maintaining the current interest rate. The RBA made no mention of further tightening in their accompanying statement. So, the AUD/USD has fallen to a low so far at 0.6514. It is just now trading at 0.6520
 

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