AU ran up over 300 pips in 3 weeks on the sentiment that the RBA would be tapering its bond purchases in the near term. At the rate decision of Sept 7 Lowe states that bond purchases at 4 billion per week will continue until "at least" Feb. 2022. The statement also repeats previous statements that there will be no rate increases until 2024 contingent upon a sustained improvement in employment and inflation in the 2–3% range. The pair should be bearish near term.
Trade active
Trade active
Perhaps something like this.Trade active
AU has dropped below the 3/8 line so continuation may be to around the 70% line at 0.7218Trade active
It's either reversing or we're about to see some 0.71s. Probability is with the latter.
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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.