Forex: AUD/USD falls below 1.0300

The Aussie is trading lower against the USD following the RBNZ decision to leave unchanged its interest rate at 2.5%. The AUD/USD has fallen around 20 pips in the last minutes from 1.0310 to break down the 1.0300 level and test 1.0290.

Currently the pair is trading at 1.0295, 0.25% below opening price action. As for the short term, MACD, CCI and Momentum are bearish in the 15-minute chart.

"The overvalued New Zealand dollar is undermining profitability in export and import competing industries," says the bank in its official release. The RBNZ expects "to keep the OCR unchanged through the end of the year."