RBA preview - what to expect in AUD/USD?

AUD/USD has continued to recover from the Sep 29th lows of 0.7589 within a bullish trend commencing mid September as markets started to put price a Fed hike nor a rate cut by the RBA.

US ISM Manufacturing: back above 50 - Wells Fargo

Despite an improvement in US data overnight or the support for the general greenback as the world's major reserve currency that benefits in times of global market uncertainty, the Aussie has maintained a bullish tone ahead of today's RBA decision attributed to them staying on hold under new governor Debelle while also performing well in the wake of the Chinese renminbi's admission to the IMF's SDR basket over the weekend. 

RBA: another rate cut is not off the table - Commerzbank

Today's RBA meeting will be accompanied by a statement. Markets are expecting the RBA to stay on hold, but markets will be looking to see whether the statement is any less dovish after rate cuts back in May and August that may be having the intended effect and whether the value of the Aussie is a direct and rising concern currently.

AUD/USD levels to monitor

AUD/USD has so far struggled with the 0.77 handle, but a less dovish statement on the back of the RBA holding could see another test of the top of its converging range, which is currently located at 0.7716. However, anything that implies that the economy requires stimulus or may do in the near future, or indeed any downside surprises from the meeting, the 2016 uptrend, currently located at .7460, could come under significant pressure in the near term once the key 50 dma at 0.7608 and 200 dma at 0.7495 are taken out.