RBA suggested there's room on the downside for Aussie

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Tuesday, Jul 21 2015

The Aussie fell in Asia on Tuesday after central bank minutes suggested there's room on the downside for the currency. On July 7, the RBA left the cash rate unchanged at 2.0% at the meeting and issued a statement similar to June, reiterating the outlook that its future monetary policy moves will be influenced by incoming data and financial conditions.

The Australian dollar exchange rate and overall economic growth in the second quarter will be key for the monetary policy stance with current conditions making the record low 2% the right stance for now, the Reserve Bank of Australia said in the minutes of its latest monetary policy review released on Tuesday.

Aussie is currently being traded around 0.7350 area. Pair is likely to find support around 0.7320 and resistance above 0.74 level. There will be no major data releases in the rest of the session.

More in this category: « Will BoE rise interest rates this year? Greece submitted legislation bill »

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