AUDUSD setup in progress looking successful

This is just a quick night update on the recent move experienced on the AUDUSD. This move actually comes out as RBA holds interest rates at 2% once again signalling that there is no need for further devaluation to stimulate the economy.

Here is the brief overview of the economic indicator release results pulled from Meanwhile, taking a look at the charts, those long AUDUSD following my last post are raking in the benefits about now and should extend to early morning.


The 0.7127 level marks a potential supply zone, but I doubt it will hold up given that this pair is fundamentals driven. The Australian Dollar has been on a decline for the past 3 years. This may simply be a temporary retracement before the bearish trend resumes. However, it should not concern you unless you expect to hold for over a year or more.


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