Hello traders,
Some important news will be released for AUD/USD to day later in the Asian trading session, namely interest rate decision by the RBA.
Fundamental point of view and also based on RBA latest statement in April 2019, a rate hike could be eliminated by RBA for today due to economical situations they are concerned about, namely the trade war sentiment between the U.S. and China has been vivid recently, which can affect the Australian economy, too. On the other hand, RBA were the opinion that low interest rate should support the Australian economy. Hence there are two possible scenarios for rate decision, according to my point of view, as following:
1. RBA keeps the rate unchanged at 1.5% and keep further waiting how the economical situations will be developed between the U.S. and China.
2. They cut the rate to 0.25% basis point to support the economy with new stimulus, this signalized that the trade war between the U.S. and China is being to reach new climax.
Technical point of view the 5th impulsive wave in primary degree according to our analysis is still forming and has not completed yet, and it shall reach the level at around 0.657xx in the coming time.
Conclusion: Short the Aussie to the next lower level.
Happy trading!
Some important news will be released for AUD/USD to day later in the Asian trading session, namely interest rate decision by the RBA.
Fundamental point of view and also based on RBA latest statement in April 2019, a rate hike could be eliminated by RBA for today due to economical situations they are concerned about, namely the trade war sentiment between the U.S. and China has been vivid recently, which can affect the Australian economy, too. On the other hand, RBA were the opinion that low interest rate should support the Australian economy. Hence there are two possible scenarios for rate decision, according to my point of view, as following:
1. RBA keeps the rate unchanged at 1.5% and keep further waiting how the economical situations will be developed between the U.S. and China.
2. They cut the rate to 0.25% basis point to support the economy with new stimulus, this signalized that the trade war between the U.S. and China is being to reach new climax.
Technical point of view the 5th impulsive wave in primary degree according to our analysis is still forming and has not completed yet, and it shall reach the level at around 0.657xx in the coming time.
Conclusion: Short the Aussie to the next lower level.
Happy trading!