Back
2 Mar 2015
RBA might keep rates on hold, long AUD/USD – GrowthAces
FXStreet (Barcelona) - The GrowthAces Research Team maintains a long position for AUD/USD into RBA’s interest rate decision tomorrow, expecting the central bank to keep rates on hold.
Key Quotes
“The Reserve Bank of Australia holds its March policy meeting tomorrow and there is much speculation it could follow up a February easing with a cut to 2.0%. Interbank futures imply a 54% probability of a move this week, rising to 84% by April.”
“In our opinion the RBA will not change rates in March.”
“We stay AUD/USD long in anticipation for an on-hold decision tomorrow.”
“Significant technical analysis' levels:
Resistance: 0.7794 (21-dma) 0.7817 (10-dma), 0.7914 (high Feb 26)
Support: 0.7756 (hourly low Mar 2), 0.7721 (low Feb 13), 0.7644 (low Feb 12)”
“AUD/USD trading strategy: long at 0.7805, target 0.8020, stop-loss 0.7710”
Key Quotes
“The Reserve Bank of Australia holds its March policy meeting tomorrow and there is much speculation it could follow up a February easing with a cut to 2.0%. Interbank futures imply a 54% probability of a move this week, rising to 84% by April.”
“In our opinion the RBA will not change rates in March.”
“We stay AUD/USD long in anticipation for an on-hold decision tomorrow.”
“Significant technical analysis' levels:
Resistance: 0.7794 (21-dma) 0.7817 (10-dma), 0.7914 (high Feb 26)
Support: 0.7756 (hourly low Mar 2), 0.7721 (low Feb 13), 0.7644 (low Feb 12)”
“AUD/USD trading strategy: long at 0.7805, target 0.8020, stop-loss 0.7710”