Sasha Singh
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AUDUSD : Consolidating Ahead of RBA Meeting Minutes

AUDUSD seems like consolidating within a symmetrical triangle according to which the pair might break any of the trend line. On the hourly chart of AUDUSD the pair is consolidating ahead of the release of the Monetary Policy Meeting Minutes which are due for release at 9:30 PM EDT. The minutes may reveal which way Reserve Bank of Australia are leaning towards Interest rate hike this year as some of the non-mining sectors shows gains. The pair will continue to trade within this triangle until the release of the minutes.

The trend still seems bullish on the 4 hour chart as 50 day, 100 day and 200 day SMA are rising and parallel to each other or showing no change in trend.