Initially placed a short at around 0.6960 only to be stopped out by the post-RBA announcement spike. Data has been very sluggish as of late while more and more players are buying into a possible rate cut from the RBA. Central bank chose to keep rates steady this time, which lead to a short-lived spike in the pair; although I suspect this spike to be short-lived.
Entered another short at 0.7020
Entered another short at 0.7020
Trade active
Scaled in at 0.6968 with SL at 0.6990Note
Price broke below 0.70 and continued to fall. Brief recovery was due to Australian elections where current PM kept his post, causing AUD to gain some short-term strength.Went short again at 0.6915 after price failed to sustain its climb, underlying fundamentals still point towards a lower AUDUSD.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.