FxWirePro
Long

AUD/USD pares its loss after RBA rate cut,good to buy at decline

FX:AUDUSD   Australian Dollar/U.S. Dollar
360 5 5
AUD/USD             has made a low of 0.77845 after RBA cuts interest rate by 25bpbs. It has bounced back till 0.79166 and is currently trading at 0.7903.

RBA said that “Further easing of policy may be appropriate over the period ahead, in order to foster sustainable growth in demand and inflation 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.

Related Ideas

JimmyJambles
2 years ago
Thanks guys. Good tip and very clean looking chart you've got there too. Solid.
Reply
Iskandarglenn
2 years ago
Further easing of policy may be appropriate over the period ahead.
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??

Glenn
Reply
FxWirePro Iskandarglenn
2 years ago
More to come but it is expected to hold for certain period of time
Reply
Iskandarglenn
2 years ago
Driving Board, Is what it looks like!
Reply
Iskandarglenn Iskandarglenn
2 years ago
Diving
Reply
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