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AUD/USD Signal - RBA Interest Rate Decision - 02 Feb 2021

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Signal Details
Entry Price: 
0.76222
Take Profit: 
0.76748
Stop Loss: 
0.75696
Direction: 
Buy
How we trade
Average: 5 (2 votes)

AUD/USD is trading to the upside today prior to RBA Interest Rate Decision. RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish. Technically the pair is trading above the 50 moving average, and we anticipate further upside on the AUD/USD into the 0.76748 level.

Submitted by Toni H. on Mon, 01 Feb 2021 22:18:45 GMT

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Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion. All risks and coasts associated with online trading are your responsibility.

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