The pair AUD/USD continues to show a downward movement since 21 April.
Yesterday's statement by the head of the Reserve Bank of Australia has only confirmed that current inflation expectations allow the regulator to carry out a soft monetary policy. The chances of lowering rates this summer are quite large.
The labor market also raises many questions. The latest report showed that despite the increase in the number of jobs, it is caused solely by workers on part-time, but those who took a full-time was less than 9300. We have seen this trend for the 3 months.
In the nearest time, the pair may still show a slight correction after the lengthy sales. However, we recommend use it to enter the market to buy Puts.
How to trade
The pair AUD/USD has the several key levels on the hourly chart: 0.7246, 0.7222, 0.7180, 0.7127. If the pair falls below 0.7180, we would buy put options. The short-term upward movement, as well as the consolidation, is possible in the range of 0.7222 - 0.7246. In this case, we would buy call options.
Expiry time: 20:00 GMT