The Australian dollar was seen to be less positive following the decision of the Australian central bank monetary policy meeting in this morning's Asian session.
The Reserve Bank of Australia (RBA) maintained its interest rate unchanged at a low of 0.10% as the market had expected.
The outlook for Australia's economic growth is positive with expectations rising for 2020 as well as 2021.
If we look at the price movement on the AUD / USD currency pair chart, the price moved lower during the Asian session before showing a slight increase following the RBA meeting results.
The price is still restrained at the Moving Average 50 (MA50) barrier within the 1 hour frame of the price movement will signal the next price direction.
The price hike is expected to be limited which was overshadowed by last weekend's downtrend in addition to the US dollar still moving strongly in the market.
If the price manages to show an increase, the 0.78200 price resistance zone will be tested before the higher rise continues to signal a bullish trend change.
However, if the price continues to decline below the level of 0.73300, the price is seen to move towards the support level at 0.76500.
The next lower drop will lead to the level of 0.75700 which is the support level in last February's trade.
