AUDUSD Short Position (4Hr Timeframe)
-4Hr: Retest of support line with bullish momentum towards resistance which I feel will retest and gain bearish momentum upon the interest rate decision
-Daily: retest of support line
- RBA governor Philip Lowe indicated in July that interest rates were likely to remain on hold for a while as Australians grappled with rising household debt, stubbornly weak inflation, and slow wage growth.
- If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.
-Daily: retest of support line
- RBA governor Philip Lowe indicated in July that interest rates were likely to remain on hold for a while as Australians grappled with rising household debt, stubbornly weak inflation, and slow wage growth.
- If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.
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