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  • Overall quiet reaction from $AUDUSD to the #RBA rate decision Most notable update likely has to do with them letting the markets know that they could do more adjustments to bond purchases given rising yields But that may have already been priced in... https://t.co/rol1p1WcAw
  • RBA: Bond purchases brought forward this week to assist market -BBG #RBA
  • RBA: Lending conditions remain sound, important to remain so. Committed to 3-year target, will continue buys as needed -BBG
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  • 🇦🇺 RBA Interest Rate Decision Actual: 0.1% Expected: 0.1% Previous: 0.1% https://www.dailyfx.com/economic-calendar#2021-03-02
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  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Gold: -0.91% Oil - US Crude: -1.47% Silver: -2.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/hZiyf9sKbK
AUD/USD Preparing for Next Bull Leg?

AUD/USD Preparing for Next Bull Leg?

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

AUD/USD Preparing for Next Bull Leg?

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-“A final high (above the April high) is possible in order to complete impulses at multiple degrees of trend (from the May low and January low). That high appears to be in place. The high so far is on 7/1, which is a day that exhibited high volume. The action after a high volume day suggests that the new high was exhaustive in nature.”

-The rate has followed through on its reversal week. Ultimately, the confluence of former lows and the 200 DMA at .9200 could provide important support for the next low. Failure to hold that level would open up retracement levels at .9080 and .8980. Resistance is .9360 and .9400.

--Tradingideas are availabletoJ.S. Trade Desk members.

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