Modest USD recovery weighs on the pair. Commodities’ performance helped AUD earlier in the day. Coming up: RBA meeting minutes. The AUD/USD pair started the week on a firm footing boosted by the risk-on mood and rising commodity, namely iron ore, prices in the first half of the day. After touching its highest level of March at 0.7120, however, the pair failed to preserve its bullish momentum and erased its gains in the NA trading hours. As of writing, the pair was virtually unchanged on the day at 0.7090. In the early trading hours of the Asian session on Tuesday, the RBA is scheduled to release the minutes of its March meeting, at which the bank decided to keep the policy rate unchanged as expected and said that trade tensions remained as a source of uncertainty. Last week, Annette Beacher, chief Asia-Pacific macro strategist at TD Securities, argued that the RBA was pointing out to a balanced outlook for the economy regardless of the pessimistic market pricing. Ahead of the RBA’s minutes, the house price index from Australia will be looked upon for fresh impetus. Analysts expect house price to decline by 2% on a quarterly basis in the fourth quarter following the third quarter’s 1.5% fall. On the other hand, the US Dollar Index pushed lower earlier in the day but didn’t have a tough time recovering its losses ahead of Wednesday’s FOMC meeting. A modest rebound witnessed in the 10-year T-bond yield following last Friday’s sharp fall seems to be supporting the greenback. At the moment, the DXY is up 0.1% on the day at 96.60. Key technical levels AUD/USD Trends: Daily SMA20: 0.7101 Daily SMA50: 0.7137 Daily SMA100: 0.7161 Daily SMA200: 0.7226 Levels: Previous Daily High: 0.7098 Previous Daily Low: 0.7061 Previous Weekly High: 0.7099 Previous Weekly Low: 0.7026 Previous Monthly High: 0.7285 Previous Monthly Low: 0.7053 Daily Fibonacci 38.2%: 0.7084 Daily Fibonacci 61.8%: 0.7075 Daily Pivot Point S1: 0.7065 Daily Pivot Point S2: 0.7045 Daily Pivot Point S3: 0.7028 Daily Pivot Point R1: 0.7101 Daily Pivot Point R2: 0.7118 Daily Pivot Point R3: 0.7138 FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next UK Junior Brexit minister: If EU denies extension, we will leave on March 29 with no deal FX Street 4 years Modest USD recovery weighs on the pair. Commodities' performance helped AUD earlier in the day. Coming up: RBA meeting minutes. The AUD/USD pair started the week on a firm footing boosted by the risk-on mood and rising commodity, namely iron ore, prices in the first half of the day. After touching its highest level of March at 0.7120, however, the pair failed to preserve its bullish momentum and erased its gains in the NA trading hours. As of writing, the pair was virtually unchanged on the day at 0.7090. In the early trading hours of the Asian session on Tuesday,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.