AUD/USD before RBA Interest Rate Decision: A bullish momentum is coming?

Today at 03:30 GMT will be published the Australian (RBA) interest rate decision, where the markets are widely expecting an unchanged number at 1.5%. Central bank’s officials had been noting that current cash rate is reflecting the overall Aussie’s economy growth and didn’t bring some hints about further cuts or hikes in their latest meeting’s minutes. Also, RBA’s members said in the past that inflation target could be reached at the time.

Our technical analysis for AUD/USD at H4 chart is showing a strong support found around the psychological zone of 0.7300 and now, Aussie is looking to break the resistance level of 0.7489 ahead of the interest rate decision. If the statement comes in very optimistic, the pair could cling up towards the 0.7562 level, where is located the 200 SMA. However, a pullback at the current stage can lead the pair to test the bullish trend line formed since November 21st lows.