AUD/USD Moves Higher After RBA but Swiftly Pare Gains

        0500 GMT [Dow Jones] AUD/USD moves briefly higher after the RBA holds rates at a record low for the eighth meeting in a row, but swiftly pares its gains. OM Financial Client Advisor Stuart Ive says the initial gain came when there was little attempt by the RBA to jawbone the Aussie lower. However, "it's very much on the fence. There is little in here [the statement] to make people to buy the Aussie or to sell it," he says. The pair ticks up to 0.9318 but is now at 0.9279 versus 0.9282 prior to the statement. Ive says he has support at 0.9250 and resistance around 0.9315. (rebecca.howard@wsj.com; Twitter: @FarroHoward)
        (END) Dow Jones Newswires

        May 06, 2014 01:00 ET (05:00 GMT)