AUD/USD Set to Tumble After Brief RBA Rally

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The AUD/USD pair seems vulnerable and could further to lose steam despite a rather positive RBA outcome this morning. The Reserve Bank of Australia (RBA) left its benchmark interest rate unchanged at a record low level of 0.75% today.

However, the USD is set to gain momentum again with risk appetite slowly back on the rise. So after the Asian trading brought the pair up today we could see the downtrend resuming also in light of weakening economic demand from China. We would, therefore, sell the pair at current market price 0.6730 with SL at 0.6785 and TP at 0.6520.

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