When policies and triggers diverge
Updated
Fundamentals & Sentiment
The outlooks of SNB and RBA go in opposite directions, with SNB staying one of the most regulators and RBA not considering cutting rates until August.
On the triggers side, we've got strong employment data from Australia today. From the other side, the SNB has cut the interest rate, while the market expected Hold with 63% odds.
Finally, CFTC data shows AUD being stretched to the downside which is another reason to buy AUD.
Technical & Other
Setup: S(B)
Setup timeframe: D
Trigger: 1h
Medium term: Up
Long-term: Up
Min target: Rectangle height, June 2023 highs
Risk: 0.79%
The outlooks of SNB and RBA go in opposite directions, with SNB staying one of the most regulators and RBA not considering cutting rates until August.
On the triggers side, we've got strong employment data from Australia today. From the other side, the SNB has cut the interest rate, while the market expected Hold with 63% odds.
Finally, CFTC data shows AUD being stretched to the downside which is another reason to buy AUD.
Technical & Other
Setup: S(B)
Setup timeframe: D
Trigger: 1h
Medium term: Up
Long-term: Up
Min target: Rectangle height, June 2023 highs
Risk: 0.79%
Trade closed: stop reached
It was technically overextended, the SL should've been based on Daily.
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