the RBA maintains the view that very significant monetary support will be needed for some time with the Governor stating that markets expectation of rate rises in 2022 and 2023 is not shared by the bank. This growing divergence is likely to weigh on AUD/CAD.
As the CAD on a trade weighted basis (TWI) is at a six year peak, there is a risk that the Governor jawbones the currency, which could shake out some weak CAD longs.
with this I decided to wait to sell
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the competition he is also good I see in this analysis could be heading towards a fibo measure of 2.618