The RBA interest rate decision is expected at 12:30 AM ET/4:30 GMT, with the expectations for no change in policy. Eamonn previews the decision in detail (CLICK HERE), with supporting commentary from global institutional economists.
What about the technical trading levels for the AUDUSD that are in play through the decision?
The price of the AUDUSD has been trading above and below the 100 day MA over the previous 4 trading days. This is no different than what happened a month ago immediately preceding the last announcement. When the price trades around such a key technical level, it says to me the market is unsure of the next move. That is ok. What happens after the risk is known is more important to me and using the 100 day MA as the launch point is a great place to start to look for the next trend like move away.
For a complete overview of the key levels in play, CLICK of the following video link:
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