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AUD/USD-Continues downtrend !

  • Charts: 4 H,1 Day
  • Elements used: CCI , Support & Resistance
  • Current Level : 0.7740
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Metal_Mind 14 4月

UPDATE 1: The us dollar lost some in value as expected  reaching a low of 0.7530 from the 0.7740 level at the time i posted the analysis.The prediction is looking good and set into the right direction.

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Metal_Mind 18 4月

UPDATE  2: The pair rebounded  fast after its sell off  and now is again trading at 0.77 level.I would personally take into account recent fundamentals and think the RBA will intervene to send the exchange rate lower in order to gain some competitive advance and recoup the loses from the recent  iron ore devaluation. That been said if the rate goes lower there is a high possibility to reach my target.

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RBNZ MONETARY POLICY STATEMENT


The slam-dunk of monetary events is supposed to occur later today. The Reserve Bank of New Zealand is expected to tighten interest rate policy. It is the key event in a relatively quiet week for G10 economies. To many the biggest event risk is the Governor Wheeler and company will do nothing in upcoming monetary policy statement. The RBNZ has held the OCR (overnight cash rate) at +2.5% for three-years now, and in that time, not at all dissimilar to other developed countries, Kiwi monetary polic…
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source?

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