after the RBA meeting, AUD/USD recommendation

hello,

Bank of Australia, of course, has left its key interest rate unchanged (2.5%), but the Australian dollar fell after the meeting of the bank because its chief Glenn Stevens said that the pair AUD/USD is too high.

Moreover, he said that this level of AUD/USD makes it impossible to achieve a balance by the economy of Australia.

Statement by Glenn Stevens, Governor: Monetary Policy Decision

also present the latest analysis of investment banks:

UBS

shot up to 0.9521 early in Asia and was trading around the figure before the RBA decision. There was no major surprise except that the central bank sounded a bit stronger than expected on currency strength and spot slipped to 0.9463. Buy at 0.9410-40 with a stop at 0.9370.

Natixis

"The AUD/USD hit a low point of 0.9422 last week, just above a key short term support at 0.9410 (retracement of 38% of the uptrend between August & October)"

 "Above this support, a rebound is possible in the coming sessions which would be confirmed by a break above an intraday resistance at 0.9550 paving the way to 0.9758 top. Above this threshold, the next medium term resistance lies at 0.9965,"

 "A break below 0.9410 would invalidate this scenario in the short term and would signal the extension of the correction,"

In line with this view, Natixis recommends entering into a fresh technical tactical long AUD/USD at market, with a stop at 0.9409, and a target at 0.9757.

more about short on AUD/USD


Me

A couple of days more and more attention I devote observation pair AUD/USD, but at the moment I think it is not a good time to trade. We are in the process of creating a corrective waves and should be observation behavior of the market.

regards,
oscarjp

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