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AUD/USD reverses knee-jerk dip below 0.75 handle, short rallies

FX:AUDUSD   Australian Dollar / U.S. Dollar
477 2 12
AUD/USD             see knee-jerk dips below 0.75 handle to hit lows of 0.7480 after the RBA cut rates by 25 bps             as expected.

The cut was largely priced in wake of dwindling economic growth, mixed labour market and rising AUD.

The pair has quickly reversed the dip to trade around 0.7520 levels, finds stiff resistance at 1H 20-SMA at 0.7550.

Intraday bias is lower, we see scope for test of 0.7455 and then 0.7420 levels.

Good to sell rallies around 0.7530, SL: 0.76/ TP: 0.7480/ 0.7440/ 0.7420
Hello everybody :)
Please find a nice analysis
Good luck.
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Took sell
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