AUD/USD had already dipped below 0.75 in a Sunday gap but the battle was still raging. Not any more. This is not low enough for the Reserve Bank of Australia. While they left the rates unchanged at 2%, they kept talking down the A$. The new low is already 0.7433, the lowest since 2009. Update: AUD/USD dips below 0.74 together with the commodity sell-off Here is the key line. While there are only minor changed to previous statements, it seems that the team led by Glenn Stevens just doesn’t let go. Here is a snippet from the statement: Further depreciation seems both likely and necessary, particularly given the significant declines in key commodity prices In addition, they say that monetary policy needs to be accommodative and that they are still assessing whether this policy is effective. Regarding inflation, they see it as consistent with their target. But what about housing? The team at Canberra notes the rising home prices in Sydney and see it as more varied in other areas of the Australian continent. AUD/USD But it’s also the data that does not appear in the statement that weighs on the Aussie: the Shanghai Composite, China’s main stock index, continues falling. This comes despite efforts from the government to stabilize the situation. China is Australia’s No. 1 trade partner and the fall in stocks is not on its own. Also commodity prices which Australia exports are on the fall, and this does not bode well for the Aussie, as the RBA noted. Prices of iron ore are in the longest run of losses in 10 months. Here is how it looks on the chart. We are at levels last seen in May 2009, when the pair began its long recovery from the Global Financial Crisis. 0.75 now turns into resistance, with the round level of 0.74 serving as minor support. More: AUD and potential fiscal stimulus – Credit Suisse In our latest podcast we feature a Greferendum preview, NFP review and more Follow us on Sticher. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam AUD/USD Daily OutlooksForex News Today: Daily Trading News share Read Next Waiting for a Greek proposal Anat Dror 8 years AUD/USD had already dipped below 0.75 in a Sunday gap but the battle was still raging. Not any more. This is not low enough for the Reserve Bank of Australia. While they left the rates unchanged at 2%, they kept talking down the A$. The new low is already 0.7433, the lowest since 2009. Update: AUD/USD dips below 0.74 together with the commodity sell-off Here is the key line. While there are only minor changed to previous statements, it seems that the team led by Glenn Stevens just doesn't let go. Here is a snippet from the statement: Further depreciation… 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.