Continue to go long when this pair retrace back to D1 support on the chart.
Fundamental:
- RBA is expected to pause rate cut for this November. However, future rate cut is more cloudy as 0.75% is already the lowest level of rate in Aus history. Moreover, RBA need the previous rate cut to kick in the economy to avoid cutting rate to fast and too hard. Therefore, I expect RBA rate stament will lean on more hawkish tone in this coming Tuesday. A more important day is in Friday November 8th which RBA post RBA Monetary Policy statement. This statement will guide RBA for Q4. There is a possibility that RBA will express further rate cut is needed to stimulate the economy ( maybe in 2020).
Therefore, expect AUDUSD will be bullish for nearly a whole week but will be more bearish at the end of next week.
Fundamental:
- RBA is expected to pause rate cut for this November. However, future rate cut is more cloudy as 0.75% is already the lowest level of rate in Aus history. Moreover, RBA need the previous rate cut to kick in the economy to avoid cutting rate to fast and too hard. Therefore, I expect RBA rate stament will lean on more hawkish tone in this coming Tuesday. A more important day is in Friday November 8th which RBA post RBA Monetary Policy statement. This statement will guide RBA for Q4. There is a possibility that RBA will express further rate cut is needed to stimulate the economy ( maybe in 2020).
Therefore, expect AUDUSD will be bullish for nearly a whole week but will be more bearish at the end of next week.