AUDUSD edges higher after RBA minutes

AUDUSD has managed to rally back above 79c as the market acknowledges that Australia is one of the few economies to expand last quarter. There is growing speculation that the RBA may even raise rates over the next 12 months on signs of recovery. On the day the rally maybe short lived. The 7930 breakdown level is the pivot point to watch in my eyes. I would still look to sell rally towards 7930, buying them back at 7870. A close below 7930 might help the argument for a move lower towards 7820 area. However, Model traders have been buying over the last week and will look to buy more on dips back at 7820 area. On the day Im selling 7920 and buying them back at 7870.

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