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AUD/USD: Rate Cut Retracement (August 6, 2013)

The Reserve Bank of Australia cut interest rates by 0.25% during their monetary policy statement today and, judging from AUD/USD’s reaction, this was expected by most market participants.

However, a rate cut is still a rate cut. In comparison to the Fed which is looking to reduce stimulus soon, the RBA is still more dovish, which could mean that AUD/USD could continue to trend lower.

060813

A short trade around the .9000 to .9050 former support area could be a good entry. Aiming for the recent lows or for new lows with a 50-pip stop would yield a high reward-to-risk ratio. Stochastic isn’t in the overbought region yet, which suggests the pair could pull up higher before resuming its drop.

By Kate Curtis from Trader's Way.

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Cotizaciones
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread

2023 Martin Luther King Holiday Schedule

Due to the Martin King Holiday on 16 January, 2023, market activity and liquidity may be lower than usual....

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