FxWirePro: AUD/USD slightly weaker on RBA's status-quo, finds strong support at 0.7615 (20-DMA)

• RBA's rate decision was largely a non-event,  AUD/USD failed at weekly highs, slips lower to hover around 20-DMA support at 0.7615.
   
• RBA left the cash rate unchanged at a record low of 1.5% earlier today.
   
• Downside remains cushioned as the policy statement offered no explicit dovish bias and continues to remain data-dependent.
   
• Recent data suggest that overall growth is continuing, Australia’s Q2 Current account came in at -$15.5bn versus -20bn expected.
   
• Focus now shifts towards the US LMCI and ISM services data due later in the NA session.
   
• Techs on daily charts are bullish, but upside to resume only on break above trendline resistance at 0.7640.
   
• On the flipside, 5-DMA at 0.7567 is strong support, break below could see downside upto 0.7536.
   
• Major support levels - 0.7615 (20-DMA), 0.76, 0.7581 (session low).
   
• Major resistance levels - 0.7636 (trendline), 0.7655 (Aug 23 high), 0.7691 (Aug 15 high).
  ​

Recommendation: Go long on break above 0.7636, SL: 0.7610, TP: 0.7690/ 0.77