RBA: unchanged but AUD to struggle due to Fed - Scotiabank

Analysts at Scotiabank noted the forthcoming RBA meeting today.

Key Quotes:

"The RBA policy meeting this evening (early Tuesday local time) is widely expected to result in unchanged policy (cash rate currently set at 1.50%).

The AUD’s 50, 100 and 200-day moving averages all converge in the low 0.75 area currently, which may provide the AUD/USD with firm support.

We think the AUD may struggle to extend above 0.77 while the Fed is in play, however."