The AUD/USD it has lost about 25 pips immediately after the release of the Bank of Australia Reserve statement, dropping to fresh lows for the day at 0.7737. Previously, the pair had reached six-day highs at 0.7769 during the early hours of the Asian session.
The Reserve Bank of Australia (RBA) has decided to keep its interest rates unchanged at the all-time low of 0.1% at its June meeting, as expected. In addition, he has pointed out that until he achieves the objectives of full employment and inflation, he will not raise them, something that he does not believe will happen at least until 2024.
Traders of the pair will be waiting to digest the announcement in the next few hours, before the US data can give a new boost to the dollar. The focus today will be on the US ISM Manufacturing PMI for the month of May, which is expected to remain unchanged around 60.7, the level it already registered in April.
AUD / USD levels
With the pair trading at the time of writing above 0.7745, gaining 0.12% on the day, the first support zone is at 0.7720 before extending the decline towards 0.7700. Below, the target is at 0.7676, the bottom of May 28 and the last four weeks.
In case of regaining ground, initial resistance is around the highs of the day, near 0.7770. Higher up, the 0.7800 barrier awaits before reaching 0.7814, the May 18 high.
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