The floor is RBA
Updated
The second day of a vital week for the world economy, and the RBA kills it. Consumer prices rose by 1.9 percent through the year to the March quarter of 2018, compared with market consensus of 2 percent and yet, the interest rates remain same. The rates were expected to pump some life into the Aussie, which plunged from 0.78 to 0.752 in less than 13 days; and I expect it to plunge more.
Recent technical analysis reveals that the pair tested the 19 hour WMA. The MACD,on the other hand, is not expected to cross.
The DMI makes it crystal clear. The ADX is rocketing up, which indicated a strong bearish trend. The gap between DI+ and DI- is huge so we clearly don't expect a trend reversal here.
Expect Support at:
0.7566
0.7508
0.7436
And resistance at:
0.7643
0.7726
0.7813
[Provided by DailyFX]
Happy Trading!
-Riz
Recent technical analysis reveals that the pair tested the 19 hour WMA. The MACD,on the other hand, is not expected to cross.
The DMI makes it crystal clear. The ADX is rocketing up, which indicated a strong bearish trend. The gap between DI+ and DI- is huge so we clearly don't expect a trend reversal here.
Expect Support at:
0.7566
0.7508
0.7436
And resistance at:
0.7643
0.7726
0.7813
[Provided by DailyFX]
Happy Trading!
-Riz
Trade active
Opened at: 0.75092T/P: 0.75021
Let's see!
Trade closed: target reached
Yay!
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