• The Reserve Bank of Australia released minutes of the June RBA meeting when interest rates were held unchanged at 1.75%. Aussie remained little changed after the RBA minutes release.
   
• The Board judged that unchanged policy stance would be consistent with sustainable growth in the economy and inflation returning to target over time.
   
• Low interest rates and weaker AUD since 2013 helped support above potential growth in Q1 and Q2 growth to be more moderate, but year-ended growth should stay slightly above potential.
   
• Regarding the AUD, it said appreciation of the Aussie could complicate adjustment of economy by lowering the terms of trade.
   
• Also, Australia house price index data released earlier today surprised on the downside weighing down on AUD/USD.
   
• Data showed RBA House price Index for Q1 grew y/y, but fell to -0.2 % q/q.
   
• On the daily charts, AUD/USD has broken trendline resistance and 50-DMA at 0.7433/35. RSI strength seen at 59 and daily Stochs are biased higher. 
   
• Our previous call (http://www.econotimes.com/FxWirePro-AUD-USD-rebounds-on-renewed-optimism-good-to-go-long-on-breakout-above-07450-223791) is progressing. Recommend holding for targets.
   
• Immediate support and resistance are seen at 0.7433 (50-DMA) and 0.7486 (session highs).
   
• Focus now on Yellen’s testimony on the Semi-annual Monetary Policy Report later in the NA session for further momentum on the greenback.