AUD/USD little changed around 5-DMA on RBA minutes

The AUD/USD pair defends the bids and pays little heed to RBA meeting minutes published last minutes, as the minutes offered no news surprises.

AUD/USD unperturbed by RBA minutes

Currently, the AUD/USD pair trades modestly flat at 0.767, having failed once again above 0.7680 region. The major keeps the range after the AUD was unperturbed by the release of minutes of RBA Aug 2 meeting, where the central bank slashed the key rate by 25bps to a record low of 1.75%.

Markets absorb the minutes document, which repeated that prospects for growth would be improved by easing monetary policy. While the upside appears capped amid deteriorating risk sentiment as the Asian equities and oil prices trade in the red.

Markets now look forward to a fresh batch of US macro data, with the inflation report closely eyed for fresh insights on the US interest rates outlook.

AUD/USD Levels to watch   

The pair finds the immediate resistance at 0.7684 (daily high) above which gains could be extended to the next hurdle located at 0.7700 (round figure). On the flip side, the immediate support located at 0.7606/0.7600 (20-DMA/ round figure). Selling pressure is likely to intensify below the last, dragging the Aussie to 0.7546 (50-DMA).