The RBA hold its cash rate at 1.50% today. It was new governor Philip Lowe's first meeting after former governor Glenn Stevens stepped down in September. The rate statement is similar to the previous one and a fairly neutral one.

Aussie fell about 15 pips after the release in a largely sideways market. The pair is at an important inflection point. 2011 - 2016 support/resistance line, 2013 - 2016 downtrend line and 0.77 level form a strong resistance. 50 DMA is the first stronger support.

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