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If they cut rates we are going down without doubts...
TheAnonymousBanker
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The RBA cuts interest rates by 25bp, but the market prefers to look to the good economic data released through fine the month of June and July. Technically speaking, the trend remains bearish , at least at low TF, but the post-announcement move could leave open the door to a test of resistance around 0.7630 during the next 2-3 sessions (attention to Friday's NFP). As long as the price remains above 0.7520, the trend remains bullish constructive. If you took long position this night, around low, put stop in BE is let your profits run. (Rule # 1 of technical analysis).
fromzerotospyro
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ill be keeping an eye on 0.75500 thank you
Trader_Dale
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Based on Market Profile (volumes) and Price Action there is very strong swing support at 0.7246. There was about 2 week rotation where the big players accumulated their long trades and then moved the price agressively higher. You Can see this strong trading activity even on yearly volume profile!
If the price comes back to 0.7246 I think that the agressive buyers will come again and push the price higher once more.
Here is my analysis: