Aussie pares losses after RBA setback earlier

<p>Besides the move in the Australian dollar, other major currencies are leaving a lot to be desired so far in European trading. As for the aussie rebound itself, it keeps within the range and technical levels highlighted <a href="https://www.forexlive.com/news/aussie-slips-as-the-rba-presses-the-pause-button-20230704/" target="_blank" rel="follow">here</a> with the confluence of the 100 and 200-day moving averages at 0.6692-93 still a key resistance marker.</p><p>The RBA may not have raised the cash rate today but they continue to leave the door open for a move in August, and that is where markets are seeing a firmer move by the central bank. Coming into today's decision, the probability of no change was at around 63% with two more rate hikes priced by year-end.</p>

This article was written by Justin Low at www.forexlive.com.