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Hardy: How I'm trading the Aussie after the RBA surprise

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AUDUSD is still just above 0.78 this Tuesday lunchtime in Europe after rising when Australia's central bank didn't cut rates as many were expecting.  Saxo Bank's Head of FX Strategy, John Hardy, tells us how he's trading the pair and what we can perhaps expect next.
John says a cut is still very likely and could come as soon as the next RBA meeting. He looks at the levels to watch and suggests a poor Australian GDP report out later could quickly weaken the Aussie towards the 0.7750 level. He also looks much further ahead and feels AUDUSD has much further to fall over the next twelve months.