Strategist Richard Falkenhall at Skandinaviska Enskilda Banken says that the RBA's decision to leave rates unchanged looks related to a lack of new information since the last meeting.
He's pumping for a cut in April and says that a short at 0.7810 is in order with a target at 0.7300. He suggests a stop on a daily close above 0.7930.
He's also looking for some renewed USD strength after this period of consolidation
The stop point pretty much falls in line with the levels I highlighted this morning, and the 0.7835/40 level is becoming a tough nut to crack still.
