AUDUSD - Short Post RBA rate decision
Updated
As expected the RBA cut rates on Tuesday from 1% to 0.75% and indicated that it is open for further easing in future to boost the Australian economy leading to the currency pair breaching 0.67. We expect AUDUSD to keep dropping as equity markets fall on the back of weak recent global economic data whilst a stronger than expected payroll number Friday could provide some upside to the US dollar.
Note
Direction should be short not long!
Disclaimer
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.