RBA said that “Further easing of policy may be appropriate over the period ahead, in order to foster sustainable growth in demand and consistent with the target”. This shows that RBA will keep the interest rate on hold for the foreseeable future.
Technically AUD/USD has broken short term resistance around 0.7850 (200 day 15 min MA) and this confirms intraday bullishness, a jump till 0.7960 is possible.
Intraday weakness can be seen only below 0.7845.
It is good to buy on declines around 0.78850 for the target of 0.7960/0.8000 with stop around 0.7845.
More to come. It says!
I am Australian, Debt is catching up with gutless govt.
Consumer debt high.
NB. People get a part pension in this country, even when owning a $5m house and 1.1m dollars in the bank!!
I think this tells the tale of Australia.? and the US, and all western countries??