RBA preview - what to expect from AUS/USD?

AUD/USD is currently struggling to make a convincing position for its self on the 0.77 handle as this week has started to open up events from the Australian economy already. Yesterday retail sales was out (setting a poor scene on the high street and weakening the Aussie) and today, it is all about the RBA.

The RBA are not expected to make any changes to their interest rate. Valeria Bednarik, chief analyst at FXStreet suggested that the Centra Bank could well offer a mild hawkish tone, which she said should send the pair higher afterwards. However, there could be some emphasis on the value of the Aussie dollar.

RBA's Stevens signals AUD may be getting ahead of itself - BNP

On 22 March, BNP Paribas FX Strategy Team Paribas FX Strategy Team Paribas FX Strategy Team explained that, speaking at the ASIC Annual Forum in Sydney, RBA Governor Stevens said that there is a risk the currency may be getting ahead of itself, consistent with previous comments that the AUD is perhaps a bit too high.

RBA to reintroduce strategy of 'talking down' the Aussie? - Westpac

Earlier, I wrote a piece on Central Banks in general, where TD Securities were, however, quoted saying that indeed that are expecting the Central Bank to maintain its conditional easing bias.

RBA to maintain old fashioned attitude despite the Aussie

AUD/USD levels to monitor

Having lost the 0.76 handle, the Aussie is under pressure with failures repeated at the 0.77 handle and now lacking support as we head towards the RBA today. "In the 4 hours chart, the Momentum indicator heads sharply lower as the 20 SMA turns south above the current level, and the RSI indicator stands at 43, all of which supports a downward continuation, particularly on a break below 0.7570, the immediate support," explained Valeria Bednarik, chief analyst at FXStreet.