Sasha Singh
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AUDUSD : Waiting for RBA Meeting Minutes

AUDUSD now seems to be consolidating ahead of the monetary policy meeting minutes. It is struggling to continue its uptrend and trading near the long term support trend line. A breakout or a break down may occur giving an indication of the future trend. However the downside seems limited as 50 day SMA is above the 200 day and 100 day SMA. Also the 100 day SMA is moving towards the 200 day SMA signaling the continuation of the uptrend. We can expect the pair to rally towards the resistance at .9460. 

Reserve Bank of Australia is also going to release the monetary policy meeting minutes providing the insights about the country's economic condition.A hawkish tone will provide some surge to the pair however a dovish tone will pull down the pair from its current level.