Aussie RBA interest rates and Rate Statement

The RBA is releases the Cash Rate today at 2:30pm.

Consensus for rates is for a cut of 0.25% from 1.50% to 1.25%.

The AUDUSD is currently trading at 0.6997 with a longer term downtrend well established. If rates are not to be cut then we would expect a rally to squeeze out a few of the sellers. If the cut comes in as expected, then further sellers may look to take the action down through the lows at the 0.6964 zone.