AUD/USD slipping from 0.7300 ahead of RBA SoMP

• RBA in the barrel, but trade wars and Fed rates remain key drivers for the Antipodeans.
• The Aussie remains hobbled at the week’s highs near the critical 0.7300 handle.

The AUD/USD is trading into 0.7260 heading into Friday’s early overnight session with the Reserve Bank of Australia’s (RBA) latest rate statement in the pipe, and the US Dollar is seeing a resurgence across the board after the US Federal Reserve brought little new action to the table, sparking a decline on Wall Street that threatens to spread to the upcoming Pacific-Asia region.

The RBA is slated for another appearance early Friday where no change is expected as “wait and see” has been the modus operandi of the Australian central bank for over two years and counting. Growth within Australia’s domestic economy remains a touchy subject, and although recent readings from China, Australia’s largest trading partner, have been positive, potential fallout from the US-China tradewar are likely to keep the overly-cautious RBA on their haunches.

AUD/USD Technical levels