• AUD/USD opened Tuesday 0.7081, dipped to 0.7078 in early trade after local data showed a deterioration in the trade deficit 
  
  
• Australian economy posted a trade deficit of AUD 3.095 bln in Aug, sliding 11% from July's shortfall, missing expectations at AUD 2.40 bln
  
  
• The pair later spiked to 0.7118 after the Reserve Bank of Australia, as widely expected, left interest rates unchanged at 2% 
  
  
• Many had expected a dovish statement and AUD short-covering was seen post unchanged RBA statement
  
  
• The central bank sounded optimistic on growth prospects and with regards to AUD level, said that the currency is adjusting to the significant declines in key commodity prices
  
  
• Currently AUD/USD is trading at 0.7121, at fresh two-week highs, up over 40 pips post RBA decision
  
  
• Immediate resistance at 0.7158 (Sept 22 High), above which gains could be extended to 0.7196 (Sept 21 High) 
  
  
• On the flip side, support is seen at 0.7093 (Daily Kijun) and further below at 0.7053 (Sept 22 Low)