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RBA leaves rates on hold as expected- AUD/USD edges above 0.6600

Earlier this morning the monetary policy decision from the Reserve Bank of Australia held no surprises. The Australian Central Bank did entirely as the markets expected and left their OCR (Official Cash Rate) on hold, 4.35%. The AUD/USD has not reacted much to that outcome, but it is off session lows now today. The AUD/USD closed in the US last night at 0.6585. The low seen earlier today was set at 0.6579 and the high just now was set at 0.6605. Looking at the charts on this one over the past few days, we can see a series of higher lows, but the topside is not exactly conclusive and needs to get above 0.6629 in order to endorse the modestly rising rebound trend. That is where the 200 day moving average is in place right now and remains a technical hurdle in the short-term. The AUD/USD is currently trading at 0.6605 

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