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EUR/AUD Signal - AUD Rate Statement - 1 Jun 2021

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Signal Details
Entry Price: 
1.5755
Take Profit: 
1.5920
Stop Loss: 
1.5700
Direction: 
Buy
How we trade
Average: 5 (1 vote)

EURAUD is trending to the upside prior to the AUD Rate Statement today. Previously the RBA has been very cautious with making any early adjustments to the Interest rate. The RBNZ recently announced plans for a rate hike in 2022, setting improved expectations for rates in the Australasia region. If the RBA keeps it's cautious mood this could cause the AUD to sink today. Technically the pair is at a minor and major support zone, and the PPO is giving bullish divergence. We anticipate upside into the 1.5920 level.

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Submitted by Toni H. on Tue, 01 Jun 2021 02:48:24 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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