US Dollar Index stays in red below 96.50. RBA says policymakers agreed on no strong case for near-term move in rates. Focus stays on FOMC meeting and employment data from Australia. The AUD/USD pair is trading in a relatively tight range on Tuesday and is struggling to determine its next short-term direction ahead of this week’s important events. As of writing, the pair was virtually unchanged on the day at 0.7100. Earlier today, the RBA’s minutes of its March meeting didn’t offer anything and failed to trigger a market reaction. The RBA in its publication reiterated that the board agreed that there wasn’t a strong case for a move in policy rate in the near term and there were significant uncertainties on the economic outlook. Meanwhile, the house price index in the fourth quarter declined by 5.1% in Australia on a yearly basis to miss the market expectation of -0.4%. Nevertheless, the pair struggled to push higher as the bearish pressure surrounding the greenback remained intact with investors pricing a dovish dot plot on Wednesday. At the moment, the US Dollar Index is down 0.15% on the day at 96.38. “Recent Fedspeak suggests that the Fed is likely to pare back its economic projections and the path of the hiking cycle at the upcoming meeting,” Barclays analysts said. “We believe the risks are skewed toward a dovish surprise.” Later in the week, the labour market data from Australia will be the next significant catalyst on the AUD’s market valuation. Key technical levels AUD/USD Trends: Daily SMA20: 0.7099 Daily SMA50: 0.7136 Daily SMA100: 0.7161 Daily SMA200: 0.7224 Levels: Previous Daily High: 0.712 Previous Daily Low: 0.7077 Previous Weekly High: 0.7099 Previous Weekly Low: 0.7026 Previous Monthly High: 0.7285 Previous Monthly Low: 0.7053 Daily Fibonacci 38.2%: 0.7104 Daily Fibonacci 61.8%: 0.7093 Daily Pivot Point S1: 0.7081 Daily Pivot Point S2: 0.7057 Daily Pivot Point S3: 0.7038 Daily Pivot Point R1: 0.7124 Daily Pivot Point R2: 0.7143 Daily Pivot Point R3: 0.7167 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 Switzerland’s largest online retailer now accepting Bitcoin (BTC) FX Street 4 years US Dollar Index stays in red below 96.50. RBA says policymakers agreed on no strong case for near-term move in rates. Focus stays on FOMC meeting and employment data from Australia. The AUD/USD pair is trading in a relatively tight range on Tuesday and is struggling to determine its next short-term direction ahead of this week's important events. As of writing, the pair was virtually unchanged on the day at 0.7100. Earlier today, the RBA's minutes of its March meeting didn't offer anything and failed to trigger a market reaction. The RBA in its publication reiterated that the board agreed… 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.