The RBA interest rate announcement is due up in a little under half an hour at 04:30 GMT. Personally i am expecting a 25bp rate cut from 3.25% to 3.00% although the attached from the Forex Live Economic Calendar is calling for a 50bp cut to 2.75%.
The AUD/USD is currently trading a little higher at 0.7096 but is struggling to recapture the 0.7100 level.
