Aussie also witnessed a relatively muted start to the session today, opening at $0.9274, following a $0.9257 to $0.9279 range in the US last night. Attention was all on the RBA decision, although a smattering of economic data releases prior to that offered sufficient distraction. The pair spent the initial hours contained by demand at $0.9255/50 and $0.9290/9300 offers. It fell from around $0.9288 to $0.9272 immediately after March trade data came in below forecasts but held off any attempt to break lower. The RBAdecision then saw aussie-dollar rise from around $0.9285 to $0.9295 initially with the pair then extending its gains through $0.9300 as the market digested the details of the RBA statement. Aussie-dollar got up to $0.9317 as stops were taken out at $0.9315 before offers at $0.9320 then capped the move. It then backed away below $0.9290 as the market delved deeper into the RBA statement, and was last at $0.9276. Small stops are noted below $0.9250 with more below $0.9200 whereas topside stops are noted ahead of $0.9320. Bids are noted at $0.9260/50, while a break below $0.9200 would then bring the 200-day moving average at $0.9155 into range of a test.
