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  1. #1
    Legendry Member milos's Avatar

    Key resistance at 0.78. !!!

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    As long as 0.78 is resistance, look for choppy price action with a bearish bias. The pair stands below its resistance and remains under pressure. with targets 0.7715 and  0.7630 in extension.

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  2. #2
    Legendry Member milos's Avatar

    Aussie crushed! !!!

    The Australian central bank after 18 months reduced the benchmark interest rate in February to 2.25% from 2.50% as it tries to encourage the slow economy.Analysts predicted to remain unchanged.

    Australia Building Approvals recorded minus 3.3% in December after rising 7.7% in November. Australia's trade balance recorded minus $0.44 billion after falling $1.02 billion while economists predicted deficit of minus $0.85 billion.

  3. #3
    Legendry Member milos's Avatar
    Retail sales in Australia rose in January to 0.2% from 0.1% the previous month, while analysts expected growth of 0.3%. It is needed to wait RBA Monetary Policy Statement tonight.

  4. #4
    Legendry Member milos's Avatar
    RBA Monetary Policy Statement was dowish but Aussie jumped to 0.7858.The pair is posting a rebound but stands below its resistance with targets 0.7775 and 0.7710 in extension.

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