AUD/USD (a 4-hour chart)
The Aussie weakened right after the RBA decision to keep Inflation Expectations around 1.5-2.5%. The Australian Bureau of Statistics expects to keep inflation on low levels for a while, planning to rise it lately.
The AUD/USD remained under pressure around 0.7675, bouncing from the level on any attempt to the upside. The level seems to be well defended by sellers who tried to push the price lower at the beginning of the
MACD decreased which indicates the buyers’ positions weakening. The RSI indicator is near overvalued territory, favoring a new move lower.
If bears take over the market the price will decline to 0.7650. A move lower will open the way for 0.7625 testing.