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RBA Statement Overview and Interpretation

Jignesh Publicado 3 Nov  en #Trader's blog #Fundamentals #Audusd #Rba #Inflation #Monetary Policy #Central Bank #Rba Meeting
In Yesterday's blog post I wrote about a technical short setup ahead of the RBA statement. The result turned out to be bullish.
I have taken some time to highlight some key points from my interpretation of the statement. It is included in the image below.
The main impression left from the statement was quite positive. The RBA addressed inflation, as expected as it is a global concern, however they have realistic expectations in regards to the low levels of inflation and expect that may remain so…
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AUDUSD Faces Resistance ahead of Cash Rate & Statement

Jignesh Publicado 2 Nov  en #Trader's blog #Resistance #Audusd #Rate Decision #Rba #Rate Statement #Rba Governor Stevens #Rba Meeting
The RBA is due to release a rate decision, as well as a rate statement early in the Asian session.
The rate is expected to come in unchanged, however speculation favors the downside for the AUD as the RBA has become notorious for it's attempt to jawbone the currency lower.
Looking at AUDUSD, the pair is struggling at 4H Resistance coming in at 0.7147
On the smaller time frames, we can even see a small channel broken, and price retesting. A rejection from current levels can provide a trade setup …
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