Get started

RBA

AUDUSD: Bearish Triangle Pointing Lower, Dovish RBA? During the overnight Asian session, there was a release of Australian CPI data, indicating that inflation remains stable at 3.4%, which is slightly below the expected 3.5%. Consequently, we can anticipate that this news could potentially drive the Aussie lower on maybe dovish RBA, who may try to follow other dovish CBs. From an Elliott wave perspective, we are tracking bearish pattern; its an A-B-C-D-E, possibly in already late stages. However, the ideal resistance for a wave E could still be a bit higher, around 0.6580 or so. Nevertheless, if we witness a break below 0.65, I believe that the decline could immediately resume toward the lows seen in March. Grega
Short
by ew-forecast
Aussie H4 | Could see a hawkish RBA today?The Aussie (AUD/USD) could rise towards a potential breakout level and climb higher from here should we see a hawkish monetary policy statement at 3:30 am GMT as well as a hawkish press conference by RBA Governor Michele Bullock at 4:30 am GMT. Buy entry is at 0.65826 which is a potential breakout level. Stop loss is at 0.65220 which is a level that lies underneath an overlap support and the 61.8% Fibonacci retracement level. Take profit is at 0.67120 which is a pullback resistance that aligns with the 61.8% Fibonacci retracement level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
Aussie calm ahead of RBA decisionThe Australian dollar is showing little movement on Monday. In the North American session, AUD/USD is trading at 0.6655, down 0.07%. The Reserve Bank of Australia wraps up a two-day meeting on Tuesday and is widely expected to maintain the cash rate at 4.35%. The RBA last raised rates in November 2023 and rates have likely peaked. There isn’t much suspense ahead of tomorrow’s meeting Economic growth has been hampered by elevated interest rates and the unemployment rate has been moving higher. This essentially precludes a rate hike. As for a cut in rates, the RBA is not in any rush, as inflation is falling but the current clip of 4.1%, it is more than double the 2% target. The RBA hasn’t signaled it is planning to cut rates and has maintained a rate hike bias, although barring a jump in inflation, it’s very unlikely that we’ll see another rate hike. The markets are looking at an initial rate cut sometime this year. Investors will be looking for hints at the meeting about future rate policy and the rate statement and Governor Bullock’s press conference could provide some insights. Any signals of a removal of its tightening bias could send the Australian dollar lower. China, Australia’s largest trading partner, started the week with mixed data. Industrial production sparked with a gain of 7% y/y in January-February combined, its highest level in two years. This followed a 6.8% gain in December and easily beat the market forecast of 5%. Retail sales eased to 5.5% y/y in January-February, down from 7.4% in December but above the market estimate of 5.2%. There is resistance at 0.6584 and 0.6615 0.6528 and 0.6497 are providing support
by OANDA
Analysis of RBA, BOJ, FOMC, SNB, BOE and the week aheadWeek of the 18th March (H4) DXY: Stay below 50% (103.70) to maintain bearish view, could trade down to 102.40 support NZDUSD: Buy 0.61 SL 30 TP 100 AUDUSD: Buy 0.6580 SL 40 TP 80 (Tuesday: RBA Decision) USDJPY: Riskier: Sell 148.50 SL 80 TP 200 (Tuesday: BOJ Policy Decision) GBPUSD: Buy 1.2760 SL 50 TP 100 (Thursday:BOE Voting) EURUSD: Sell 1.0860 SL 30 TP 60 (If DXY strengthens) USDCHF: Sell 0.8860 SL 35 TP 105 (Thursday: SNB decision) USDCAD: Buy 1.3455 SL 30 TP 13 (Tuesday: CPI data) Gold: Bounce off 2150 to retest high of 2200
TVC:DXYShort
by JinDao_Tai
Aussie edges higher despite business confidence declineThe Australian dollar remains close to the 0.66 line, where it has been for most of the week. In the North American session, AUD/USD is trading at 0.6620, up 0.21%. The business sector is not feeling very confident about the near-term outlook of the Australian economy. The NAB Business Confidence index dipped to zero in February, down from one in January but above the forecast of -1. The NAB report noted that retail confidence remains deeply negative. There was better news from the NAB Business Conditions index, which rose to 10 in February, up from 7 in January. By industry, manufacturing showed improvement but retail and construction weakened. Australia’s economy has been limping along and consumers are still feeling the squeeze of the cost-of-living crisis and high mortgage payments as the Reserve Bank of Australia is yet to lower elevated interest rate levels. The RBA has raised rates only once since June 2023 and hasn’t ruled out rate hikes, although the markets have priced in rate cuts for later this year. The RBA is unlikely to consider lowering rates until inflation falls lower. In January, CPI rose 3.4% y/y, still well above the RBA’s target band of 2-3%. The next meeting is on March 18th and the RBA is widely expected to maintain the cash rate of 4.35%. Thursday will be busy in the US, with the release of retail sales, the producer price index and unemployment claims. Retail sales is often a market-mover and will be closely watched. The markets are expecting a strong rebound in February, with an estimate of 0.8% m/m. This follows a 0.8% decline in January, which was a 10-month low. There is resistance at 0.6702 and 0.6780 0.6590 and 0.6512 are providing support
by OANDA
1
AUD/USD surges despite soft GDP dataThe Australian dollar has posted strong gains on Wednesday despite a weak GDP report today. In the North American session, AUD/USD is trading at 0.6562, up 0.90%. Australia’s economy ended 2023 on whimper rather than a gain, as GDP rose just 0.2% q/q the fourth quarter. This was lower than the 0.3% gain in the third quarter and missed the market estimate which was also 0.3%. The economy has been limping along and the Q4 release marked the weakest quarterly growth in five quarters. On an annual basis, GDP rose 1.5%, just above the market estimate of 1.4%. On the positive side, exports were up and imports fell, and household spending showed a small gain of 0.1%. Consumers are still being squeezed by the cost-of-living crisis and high mortgage payments as the Reserve Bank of Australia is yet to lower elevated interest rate levels. The RBA has raised rates only once since June 2023 and hasn’t ruled out rate hikes, although the markets believe that rates have peaked and have priced in rate cuts later this year. The RBA is unlikely to consider lowering rates until inflation falls lower. In January, CPI rose 3.4% y/y, still well above the RBA’s target band of 2-3%. The next meeting is on March 18th and the RBA is widely expected to maintain rates. In the US, Federal Reserve Chair Jerome Powell testifies before the Senate Banking Committee later today. Powell is expected to reiterate that inflation is moving lower but needs to come down further before the Fed will feel comfortable in lowering rates. The Fed’s consistent message of patience and caution appears to have been internalized by the markets, which are now in line with the Fed and have priced in three rate cuts this year. In January, investors had expected up to six cuts, but a stronger-than-expected US economy and a hawkish Fed have dampened the markets’ rate cut expectations. AUD/USD has pushed past resistance at 0.6527 and is testing resistance at 0.6566 0.6486 and 0.6447 are providing support
by OANDA
Australian dollar slides after CPI stays steadyThe Australian dollar took a hit after Australian inflation was lower than expected. In the North American session, AUD/USD is trading at 0.6493, down 0.78%. Australia’s inflation rate remained steady in January at 3.4% y/y, unchanged from December and below the market estimate of 3.6%. This matched the lowest rate of annual inflation since November 2021. The Reserve Bank of Australia’s preferred core indicator, the trimmed mean, dropped to 3.8%, its lowest level since March 2022. The soft inflation data is an encouraging sign for the Reserve Bank of Australia that its aggressive rate-tightening cycle is keeping inflation in check and the upper level of the 1%-3% target range is not too far off. More importantly, it reduces the likelihood that the RBA will hike rates and raises expectations of two or three rate cuts late in the year. This explains the sharp decline in the Australian dollar today, as lower interest rates would make the Australian dollar less attractive to investors. The RBA has raised rates only once since June 2023 and hasn’t ruled out rate hikes, although the markets believe that this is posturing by the central bank and the tightening cycle is over. Still, the RBA is unlikely to jump on the rate-cut bandwagon until it is convinced that inflation will continue to fall or the strong labour market shows signs of cooling. The next meeting is on March 18th and the RBA is widely expected to maintain rates and continue its “higher for longer” stance. AUD/USD has pushed below support at 0.6584 earlier and is putting pressure on support at 0.6453 0.6526 and 0.6560 are the next resistance lines
by OANDA
GBPAUD | Daily | Trade IdeaAhead of tomorrow’s RBA Interest rate announcement I’ll be looking closely at GBPAUD, as we can see from the current GBPAUD chart from a top-down and a down-up perspective we can take note of the fact that after managing to break out of the downward retracement last month, GBPAUD mamaged to push steadily upward until reaching our 1.94150 area before “losing momentum” forming a consolidation which has lasted for the past few days from the 17th of January till today where it has been steadily trading sideways. With the RBA Interest rate decision underway we can expect GBPAUD to finally choose a direction and breakout of the current consolidation, and from my analysis I can expect the GBPAUD to break in an upward/bullish direction pushing towards our 1.97xxx level hence I’ll be looking to hold my current GBPAUD (BUY) positions for now which haven’t yielded much results thus far. Will be sharing more updates on GBPAUD towards the end of trading tomorrow or early Wednesday morning. Please take note that this analysis is comprised solely of my personal opinions and outlook of the current market and should not be mistaken for financial advice or indication to enter into a particular trade, please confirm with your own analysis first before entering any trades based on the information from the current chart.
Long
by mosa_moshka
⚡️Strifor || NZDUSD-06/02/2024Preferred direction: BUY Comment: The RBA's decision on the interest rate will also most likely have an impact on the New Zealand currency, to a lesser extent, surely, but potentially, since the economies of New Zealand and Australia are closely related and are neighbors. However, we are considering longs for this instrument in the medium term, regardless of the RBA’s decision . Two long scenarios are depicted on the chart. Here, it would be preferable to gain a position by gradually moving the stop-loss beyond the level of 0.60144. The growth target is located at resistance level 0.61263. Thank you for like and share your views!
Long
by Strifor
1
⚡️Strifor || AUDUSD-RBA interest rate❗️Preferred direction: BUY Comment: One of the most important events of this trading week is, of course, the RBA's interest rate decision and accompanying statements. At the moment, all previous sales have been closed, and strengthening against the US dollar is expected. Two scenarios are ready for your attention, and the first one is already in progress. We place the second one in the format of a pending order, since no one canceled the volatility at the time of the data release and comments. The main target of such an aggressive trade is located at the level of 0.65848. Thank you for like and share your views!
Long
by Strifor
1
AUD/USD eyes RBA rate decisionThe Australian dollar is slightly lower on Monday, after sliding 0.90% on Friday. In the European session, AUD/USD is trading at 0.6499, down 0.21%. Earlier, AUD/USD traded as low as 0.6486, its lowest level since mid-November. The Reserve Bank of Australia is expected to maintain the benchmark rate at 4.35% at Tuesday's meeting, the first of 2024. The RBA raised rates in November but has been reluctant to start trimming rates, even though inflation has been falling and retail sales fell sharply in December. There is still some distance to go in the inflation battle, with inflation running at 3.4% y/y. This is close to the upper band of the RBA's target range of 1-3%, but as the Fed has experienced in its battle to tame inflation, the last mile of the race has proven to be the toughest. What can we expect from the RBA on Tuesday? With inflation still elevated and sticky, we could see the central bank remain cautious and push back against rate cut expectations. Last week's inflation and retail sales reports were weaker than expected, prompting traders to bring forward bets on rate cuts. The markets have priced in a rate cut in May at 50-50 and an 80% probability in June. If Governor Bullock maintains its hawkish stance, the struggling Australian dollar could get a boost. The US nonfarm payroll report sizzled in January with a gain of 353,000, crushing the market estimate of 180,000. The December release was revised upwards to 333,000, up from 216,000. As well, wage growth rose 0.6% m/m, up from 0.4% in December and double the market estimate of 0.3%. This points to a robust labor market. The markets lowered expectations of a March rate cut to 20% after the employment release and that has fallen to 15% on Monday, according to the CME FedWatch tool. The 10-year US Treasury yield climbed above 4% after the employment report. 0.6473 and 0.6433 are providing support There is resistance at 0.6541 and 0.6581
by OANDA
AUD/USD eyes retail salesThe Australian dollar is in positive territory on Monday after an uneventful week. In the European session, AUD/USD is trading at 0.6603, up o.41%. The markets are braced for a soft retail sales report on Tuesday, with December's consensus estimate standing at -1.0%. The November report sparkled with a 2% gain, the strongest level since November 2021. The strong gain was driven by Black Friday sales and other discounts and likely came at the expense of the December reading with consumers doing their Christmas shopping early. There could be a surprise to the upside in the retail sales report if consumers took advantage of Boxing Day sales in late December. The Reserve Bank of Australia meets next on February 6 and has repeatedly said that upcoming rate decisions will be data-dependent. This makes Wednesday's quarterly inflation report a critical release that will have a significant impact on the central bank's rate path. In the US, inflation continues to ease while economic growth remains solid, which is the recipe that the Fed hopes will continue. The US economy expanded by 3.3% in the fourth quarter, blowing past the consensus estimate of 2.0%. On Friday, the Fed's preferred inflation gauge, the PCE Price Index, rose 0.2% m/m in December, compared to 0.1% in November. On an annual basis, the index remained steady at 2.6%. The Core PCE Index eased to 2.9%, down from 3.2% in November.  The Fed is in no rush to raise rates, and market fever over a March cut have fallen dramatically. The markets have slashed the odds of a quarter-point cut in March to 48%, down sharply from 72% a month ago, according to CME's FedWatch tool. AUD/USD is testing resistance at 0.6583. There is weak resistance at 0.6613 There is support at 0.6544 and 0.6514
by OANDA
Good Setup spotted in Burger King India!"Restaurant Brands Asia Limited" earlier known as "Burger King India" is currently showing a good setup and an upside potential of 45% from CMP. The stock had rallied nearly 60% between March-Sep 2023. This very rise was impulsive in nature and therefore labeled as wave 1 on the chart. Between Sep-Dec the stock went through a triple three correction(WXYXZ) and retraced nearly 50% of the impulse. This retracement was in fact was the wave 2. The stock currently is in Wave 3 structure and could rally towards INR 190 mark. On the downside the swing low of 118.1 becomes a crucial structural support for the stock and could be used as a "SL".
NSE:RBALong
by neeraj_2_sharma
AUD/USD slips ahead of RBA decisionThe Australian dollar has started the week in negative territory. In the European session, AUD/USD is trading at 0.6648, down 0.40%. The Australian dollar is coming off a strong week, with gains of 1.38%. The Reserve Bank of Australia is expected to hold rates at 4.35% at its Tuesday rate meeting. The central bank has paused for four straight months and the markets don't expect any further hikes. Still, the RBA could send a hawkish message along with the pause to dampen speculation about a rate hike in 2024, with inflation still high at 4.9%, which is well above the 2% target. Federal Reserve chair Jerome Powell spoke on Friday, and his split message sent the US dollar sharply lower against most of the majors, including the Australian dollar which jumped 1.06%. Powell noted that monetary policy is "well into restrictive territory" and that inflation is "moving in the right direction". The markets interpreted these remarks as signals that the Fed is done with rate tightening. Although Powell warned that it was premature to assume that the Fed had achieved a "sufficiently restrictive stance", investors viewed the remarks as dovish and the US dollar fell sharply. The futures markets have priced in a rate cut in March at 59% and in May at 87%, according to the CME FedWatch tool. The Fed clearly doesn't share this stance, as most Fed members who spoke last week supported the case for holding rates at current levels for some time. This disconnect between the Fed and the markets is likely to continue as the Fed is unlikely to discuss rate cuts while inflation remains above the 2% target. The markets are looking at a rate cut in late 2024, but a lot could happen until then. If the economy cools more quickly than expected, the RBA would have to give thought to cutting rates in order to boost growth. AUD/USD tested support at 0.6639 earlier. Below, there is support at 0.6603 0.6712 and 0.6748 are the next resistance lines
by OANDA
AUDUSD: Bullish consolidation in short term?The minutes from the Reserve Bank of Australia's (RBA) Nov. 7 meeting due out on Tuesday at 0030 GMT present a risk to the recent gains in the Australian dollar. At the meeting the bank hiked the cash rate by 25bps to 4.35%, matching expectations. However, the RBA delivered a less hawkish forward guidance, stating that further tightening of monetary policy may be required. This raises the bar for the RBA to deliver an additional rate hike, which given that markets are pricing in over a 40% probability of a hike by March 2024, leaves AUD at risk from a dovish repricing. The statement of monetary policy (SOMP) also acknowledged that policymakers considered whether to pause and thus emphasises that the bar to hike again is elevated. That said, although this is a risk to the Aussie, the current backdrop of a softer dollar remains the dominating theme across FX, which in part can limit downside in the Australian dollar. From a technical point of view, the pair could extend gains as shown on 1H chart. Trade with care Like | Share | Comment
Long
by TheAnonymousBanker
7
AUD/USD BULLISH OUTLOOKThe USD, having experienced substantial blows from rate cut projections, faces a challenging scenario with the Fed signaling probable easing. Despite the narrative of falling inflation, policymakers are aiming to relay the message that inflation has yet to stabilize sustainably near the targeted 2%. The looming Fed speeches, particularly Chair Powell's impending remarks, serve as preludes to the blackout period before the December policy meeting, crucial in shaping market expectations. As the USD grapples with uncertainties, major currency pairs are capitalizing on its weakness. The AUD, alongside currencies like the GBP and NZD, has displayed resilience, buoyed by a hawkish tone from the Reserve Bank of Australia (RBA). However, doubts persist about China's economic revival, making forthcoming Australian CPI readings pivotal for short-term AUD prospects. The AUD/USD technical indicators signal a bullish trajectory, with both MACD and RSI showing buy signals. The current trend could potentially elevate the price to levels around 0.6795, although a pivot point at 0.6648 might redirect the price to around 0.6598. With the USD on a downtrend, and pivotal economic events looming, the AUD's performance against the greenback hinges heavily on data releases, central bank policies, and global economic sentiments in the days ahead. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
Long
by legacyFXofficial
Australian dollar extends gains, retail sales nextThe Australian dollar has extended its gains at the start of the week. In the European session, AUD/USD is trading at 0.6603, up 0.28%. The Aussie has posted an impressive streak, rising 3.8% against the greenback since November 14th. Australia releases retail sales for October on Tuesday. The consensus estimate stands at a negligible 0.1%, compared to a strong 0.9% gain in September. The sharp gain, which indicated resilience in consumer spending, provided support for the RBA to raise rates at the November meeting. If retail sales misses the estimate, it could sour sentiment towards the Aussie and send the currency lower. RBA Governor Michele Bullock will speak at an event in Hong Kong on Tuesday and investors will be looking for hints about what the RBA is planning at its meeting on December 5th. Changes, big changes are coming to the Reserve Bank of Australia. The Australian government announced it would introduce legislation to overhaul the central bank. This follows an independent review which called for sweeping changes at the RBA. There has been much criticism of the RBA for its pledge not to raise rates before 2024, only to embark on a tightening campaign which has raised the cash rate to 4.35%. The new Governor, Michele Bullock, has said she is favour of the changes. Last week, Bullock said on Tuesday that inflation has peaked and that the upside risk to inflation was domestic and demand-driven. Bullock noted that inflation had dropped from 8.0% to 5.5% in less than a year, but it would take much longer for inflation to drop that amount again and fall to 3%. The RBA's target range is 2%-3%. The RBA remains hawkish and raised rates earlier this month after holding rates for four straight times. AUD/USD is putting pressure on resistance at 0.6618. Above, there is resistance at 0.6650 0.6559 and 0.6526 are providing support
by OANDA
AUD/USD soars on US inflation, Aussie employment nextThe Australian dollar is unchanged on Wednesday, after massive gains a day earlier. In the European session, AUD/USD is trading at 0.6505. Australian wage growth climbed 1.3% q/q in the third quarter, matching the consensus estimate and above an upwardly revised 0.9% gain in Q2. This was the highest gain since records started in 1997, but the spike was largely due to an increase in minimum wage and a pay rise for elderly care workers. The unusual confluence of factors behind the strong wage growth print meant that it had little effect on market pricing of a rate hike. The markets have priced in a pause above 90% at the Reserve Bank of Australia's next meeting on December 5th. The RBA raised rates earlier this month after four straight pauses but the hike was considered dovish by the markets and the Australian dollar took a tumble following the decision. Australia releases employment data on Thursday, with the labour market continuing to show resilience. The economy is expected to have added 20,000 jobs in October, compared to 6,700 in September. The RBA will be keeping a close eye on consumer inflation expectations, which is expected to fall in October from 4.8% to 4.1%. The US inflation report was only a bit lower than expected, but the US dollar was pummelled on Tuesday with sharp losses against the major currencies. The Australian dollar soared, gaining 2% against the greenback. Monthly, headline inflation was unchanged in October for the first time in 15 months, with lower gasoline prices helping to push inflation lower. On an annual basis, headline inflation fell from 3.7% to 3.2%, below the market consensus of 3.3%. Core inflation inched lower to 4.0%, down from the September reading of 4.1% which was also the market consensus. AUD/USD is putting pressure on resistance at 0.6526. Above, there is resistance at 0.6592 0.6476 and 0.6408 are providing support
by OANDA
AUDJPY: Interesting zone, continue up or Double top reversal?We're at the top end of the range for this pair, I am expecting BoJ to start backing its currency. I've recently noticed some negative correlation between USDJPY and the other XXXJPY crosses, so where USDJPY falls the others have been more bullish. That said if the BoJ get involved it will tank all of them. I'm not 100% what I really think will happen here, I think the Friday pinbar suggests there's more upward momentum, but will be very cautious if I trade as anything against the Yen (@which is staggeringly weak against everything). I'm opting for a move up and would keep a tight and chasing SL in place.
Long
by Finchcliffe
1
AUDNZD: Awaiting the RBA's decisionThe Australian dollar might give back most of its recent gains against the U.S. if the Reserve Bank of Australia opts not to raise rates next week, given the groundswell of opinion backing a hike. Thirty-five out of 39 economists polled by Reuters expect the RBA to increase rates on Nov. 7, with only four predicting a hold. All of the “Big Four” Australian banks are in the majority forecasting a hike, including Westpac where newly-installed chief economist Luci Ellis was until recently assistant governor at the RBA. AUD/USD scaled a five-week peak of 0.6456 on Thursday, as the risk-sensitive AUD benefitted from global equity gains, hours after AUD/NZD notched a 19-week high of 1.0948. If the RBA springs a dovish surprise and keeps rates unchanged on Tuesday, AUD/NZD pair could sag towards 1.0820 area. Australia’s central bank most recently raised rates in May (when 75% of economists polled by Reuters expected a hold). With these in mind, we will follow a simple bearish setup and try to take a short position on a potential technical bounce with a stop loss above the previous top. Trade with care Like | Share | Comment
Short
by TheAnonymousBanker
5