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AUD/USD holds steady at $0.7040, ignores.....>

AUSSIE
AUSSIE: AUD/USD holds steady at $0.7040, ignores the release of the minutes from
RBA Jul MonPol meeting, which saw a 25bp reduction to the cash rate. The minutes
struck familiar notes, reiterating the RBA's focus on the labour market and
expressing readiness to ease policy further if needed. See an earlier RBA bullet
at 02:39 BST 07/16 for key snippets from the publication.
- A familiar technical picture remains intact, with bulls targeting the May 7 &
Jul 4 peaks at $0.7048 and bears keeping an eye on the 100-DMA/mid-point of the
YtD range at $0.7020/18.

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