EXNESS - Analytics

EXNESS

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AUDUSD: under pressure after the publication of the RBA minutes

Sell on a level breakthrough of 0.7700 with 0.7601 target. Stop loss = 0.7760.

Reason for the trading strategy

The minutes of the RBA June meeting were neutral for the Aussie. After the reduction of the discount rate, the Governing Council came to the conclusion at the previous meeting that this month it would be appropriate to leave the discount rate unchanged and analyze the current economic and financial conditions. Tomorrow we should expect increased volatility in the foreign exchange market due to the publication of US Federal Reserve macroeconomic forecasts. The demand for the US dollar is likely to continue growing.

AUDUSD, H4

AUDUSD



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