Forex: AUD/USD up, RBA keeps rates unchanged

FXstreet.com (Barcelona) - The AUDUSD is reacting slightly higher now at 1.0254 after the announcement of the RBA leaving interest rates unchanged at 3.5%. In session highs at 1.0257 as of writing these lines, the pair bounced from its trading price before the announcement moments at 1.0234, above its new session and 5-week lows at 1.0223.

The Australian central bank believes that despite the overall global worsening conditions in recent months, monetary policy is appropriate given inflation levels consistent with the objectives set, as well as economic growth in line with expectations. Widely anticipated by economists surveyed by Bloomberg where 24 out of the 24 economists questioned expected the decision to remain unchanged, in the absence of dovish signs the pair is pushing higher.

Immediate resistance for the pair to the upside shows at the recent session highs 1.0257, followed by the NY times yesterday highs at 1.0263, and highs early London yesterday/Thursday-Friday lows at 1.0275 . On the downside, the nearest support is seen in the recent session, weekly and 5-weeks lows at 1.0223, followed by the important Fibo level at 1.0215, and lows at 1.0175 on July 25.