Chapter 9 Well interest rate decisions in Australia give a stronger push to the downtrend?
31/07/2023
Summary
The interest rate decision in Australia leads the market
Fundamental analysis
Fundamentally in this pair, We have data release tomorrow on Interest rate decisions in Australia with positive figures expected at 4.35% Higher than the previous time If the figure came the same as the market expected or even lowerthis will give more weakness to the Australian dollar On the other hand we don't have that much data release for the New Zealand dollar.
Australia RBA Interest Rate Decision
Prev.: 4.1%
Fcst: 4.35%
Technical analysis
In this 4-hour diagram chart, the market price now is 1.08490 we expect the market to move the price up to the previous supply zone at 1.1.08500 and from that point, the price will start to go down to the old demand zone at 1.07300 with 20 average keep Curving down.
Trading Recommendation
Trading Direction: Short
Entry Price: 1.08490
Target Price: 1.07483
Stop Loss: 1.09991
