AUD,NZD/Technical Analysis

AUD/USD: Will likely stay heavy ahead of RBA tomorrow

The chances seem to be increasing that the RBA will cut rates by 25 bps tomorrow, with US and Chinese data staying soft and Spanish woes still in the headlines. That should mean that the AUD stays heavy until lunchtime tomorrow when the decision will be publicised.

The short-term charts are in a sideways-lower channel so selling any intraday rallies is the obvious play.

  1. Fall looks heavy Sean. I covered my shorts @1.0400 expecting it to rebound on friday. but it has lost another 70 pips. that looks quite sharp. bought aud/usd@1.0332

    1. On AUD the following situation, a bear bias to the solution of RBA sees, itself I want while to look and buy around 1.0299, to buy a little and to stop losses below 1.0230, the purpose of purchase 1.05 + as I have opinion that RBA won’t reduce tomorrow a rate. Reduction of a rate I expect on December 4, probability of decrease in a rate on November 6, also not big, I think because of elections in the USA. Probably I am mistaken that I adhere elections to the financial markets.>

  2. All AUD crosses looking very vulnerable with the exception of AUDEUR. Near to some key points on AUDJPY, AUDGBP and AUDSGD to name a few. Key item is RBA decision – and how much the market has shorted in anticipation of a cut.

    Hope things going well for you Sean in your new surrounds btw.

  3. Hi Serga, I wud really only be guessing whether RBA cuts or not tomoro, but if not this month then next. They have been selling quietly into rallies so I prefer th short side overall but we must pick our lvls well

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