The aussie is the laggard in the major currencies space today and it owes to the RBA policy decision earlier here. The central bank left the cash rate unchanged and offered a subtle change to its rates outlook. That is leaving a bit of a mark on the aussie with the currency struggling since the decision:
Even with risk sentiment holding up decently so far today, the aussie is unable to capitalise on that as well as a more tepid dollar. In looking at the technicals, the 200-day moving average at 0.6748 is a key one to watch on the daily chart as outlined earlier here.
If sellers can hold a daily break below that, it will essentially reset yesterday's rally in AUD/USD with price action falling back into the range that we have been seeing over the past three to four weeks.
