Description
⋅ Following from the weak US economic data last friday, further weakness in the USD is anticipated for the weak ahead.
However, on Tuesday morning, the RBA will be releasing the meeting minutes form the rate decision.
I expect a hawkish tone in the minutes, given that economic data for the AUD has been improving.
Therefore, after the release, if price is able to break the resistance level, I would be looking for a long position.
Comment
⋅ as expected, weaker USD, leading the aud above resistance.
however, with the minutes due tomorrow morning, i'd still wait for the release before an entry
Order cancelled
⋅ no trade materialised as price did not manage to break and close above the resistance level