AUD/USD fluctuated in the immediate..........>

AUSSIE: AUD/USD fluctuated in the immediate aftermath of the latest RBA MonPol

decision, but dipped eventually, as focus turned to the last paragraph of the

RBA's statement, which now says that the Board will "monitor developments and

set monetary policy to support sustainable growth in the economy and achieve the

inflation target over time." This was largely read as a slightly dovish tweak,

even as the RBA left its cash rate unch., in line with expectations.

- The pair knee-jerked to a reaction high of $0.7119 on a strong Australian

building approvals print, attributed to the volatile apartment component.

- AUD/USD last deals at $0.7081, 31 pips worse off on the day.

- Bears look for an extension of losses towards the lower 1.0% 10-DMA envelope

at $0.7030. Conversely, a return above the $0.7100 mark would open up the down

trendline from Jan 31 at $0.7129, where the rate peaked today.

- Aussie FY2019/20 federal budget comes out in ~3 hours, with focus on the cash

surplus/deficit situation, the AOFM's borrowing requirements & any fiscal

stimulus ahead of the upcoming national elections. Elsewhere, AU retail sales &

trade balance, as well as Chinese Caixin services/composite PMIs are due Weds.