AUD/USD Post Rate Decision

Written November 30, 2009 at 10:42 PM EST by  

After an as expected rate decision moving the cash rate from 3.5% to 3.75% the AUD moved lower against the USD. The accompanying RBA meeting minutes suggested that inflation was contained and has declined off its peak and that a higher AUD will continue to hurt trade. On the daily chart below we see the pair has broken the long-term trendline we have been following and is now using it as resistance. The second chart is a shorter-term version of the daily.

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