Note: This section contains information in English only."The move by the RBA wasn't exactly unexpected following last week's inflation release but at the same time, it was not a guarantee either, with the Australian economy showing signs of improvement as highlighted repeatedly by the central bank itself."
- Oanda (based on Market Watch)
Pair's Outlook
[ANNOUNCE]The AUD/USD currency pair managed to preserve the rising wedge pattern yesterday, as the exchange rate surged above the immediate resistance cluster.[/ANNOUNCE] The bullish momentum was expected to prevail today as well, but the unexpected interest rate cut by the RBA triggered a relatively sharp sell-off, which pushed the Aussie back under 0.76. Since the cluster around 0.7650 appears to be failing to keep the pair either from rising or falling, the up-trend is likely to succeed in limiting the dips. Meanwhile, technical indicators in the daily timeframe are bolstering the bearish scenario, suggesting that a recovery from the intraday low is doubtful.
Traders' Sentiment
Bullish market sentiment remains unchanged at 69%, whereas the portion of orders to acquire the Aussie increased from 31 to 52%.
Tue, 03 May 2016 13:34:04 GMT
Source: Dukascopy Bank SA
- Oanda (based on Market Watch)
Pair's Outlook
[ANNOUNCE]The AUD/USD currency pair managed to preserve the rising wedge pattern yesterday, as the exchange rate surged above the immediate resistance cluster.[/ANNOUNCE] The bullish momentum was expected to prevail today as well, but the unexpected interest rate cut by the RBA triggered a relatively sharp sell-off, which pushed the Aussie back under 0.76. Since the cluster around 0.7650 appears to be failing to keep the pair either from rising or falling, the up-trend is likely to succeed in limiting the dips. Meanwhile, technical indicators in the daily timeframe are bolstering the bearish scenario, suggesting that a recovery from the intraday low is doubtful.
Traders' Sentiment
Bullish market sentiment remains unchanged at 69%, whereas the portion of orders to acquire the Aussie increased from 31 to 52%.