AUDUSD Pre Cash Rate Forecast| 3rd April 2023
Fundamental Backdrop
1. The upcoming Cash Rate on Tuesday is expected to increase from previous 3.60% to 3.85%
2. This could cause a roughly 75-150 pip drop based on past data if the RBA statement is seen as Dovish.
Technical Confluences
1. Price reflected off resistance at 0.67400
2. Near-term support at 0.66400
3. Next support below at 0.66000
Idea
If the Cash Rate comes out as expected at 3.60% and the RBA statement is DOVISH , we could see price break the near-term support at 0.66400, before heading towards the next support below at 0.66000.
Alternatively, if the Cash Rate comes out as expected at 3.60% and the RBA statement is HAWKSIH, we could see price head back up towards the resistance at 0.67400.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
1. The upcoming Cash Rate on Tuesday is expected to increase from previous 3.60% to 3.85%
2. This could cause a roughly 75-150 pip drop based on past data if the RBA statement is seen as Dovish.
Technical Confluences
1. Price reflected off resistance at 0.67400
2. Near-term support at 0.66400
3. Next support below at 0.66000
Idea
If the Cash Rate comes out as expected at 3.60% and the RBA statement is DOVISH , we could see price break the near-term support at 0.66400, before heading towards the next support below at 0.66000.
Alternatively, if the Cash Rate comes out as expected at 3.60% and the RBA statement is HAWKSIH, we could see price head back up towards the resistance at 0.67400.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.