Plenty of AUD data to get the market moving

It should be a big day for the AUD with the RBA rate decision preceded by the trade data for March. I do not expect any change in policy or language from the RBA. (Economic calendar).

• AUD/NZD is starting the day below 1.0700 which is not a good sign for those who’ve been trying to pick the base. Today’s data/decision might give the market an excuse to go looking for more stops in the cross, possibly below the 61.8% Fibo support at 1.0670;
• AUD/USD is still range-bound broadly between .9200/.9350 and as we are right in the middle of this range I’m staying patient.