Australian Dollar (AUD) the AUD/USD enjoy a sharp rally with the EUR/USD as the shorts covered and fresh risk takers took advantage of the recent heavy selling. The AUD/USD is testing 0.9750 and a break will open up 0.9840 on the topside. The RBA meet today and is a large risk event with the market pretty evenly split on whether any change will come from the central bank.Looking ahead, RBA forecast to hold at 3.75% vs. 3.75%.
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