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Old 03-06-2019, 15:01
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Default Re: Tifia Daily Market Analytics

AUD/USD: RBA may announce another 2 rate cuts
Current dynamics

The Australian dollar and the AUD / USD pair are rising on Monday, despite the fact that on Tuesday a meeting of the RB of Australia will be held, at which the bank is expected to reduce the interest rate by 0.25% to 1.25%.
Moreover, many economists believe that the RBA may announce 2 more rate cuts this year, given the uncertain situation in the global economy and its potential impact on Australian GDP growth.
However, investors are selling the US dollar, which gives a positive impetus to dollar pairs.
Anxiety does not leave investors, and world stock indices continue to decline after last week, US President Donald Trump threatened Mexico with the introduction of import duties on its products, unless the authorities of this country take measures to prevent illegal immigration to the US.
“Mexico sent a large delegation for border talks. The problem is that they "say" 25 years. We need action, not talk. If they wanted to, they would solve the problem of the border in one day”, Trump tweeted on Sunday.
The RBA meeting will end with the publication of the interest rate decision on Tuesday (04:30 GMT).
As previously stated by the Governor of the Reserve Bank of Australia, Philip Lowe, "new incentives could help accelerate economic growth". Recent labor market data was weak, and “to accelerate inflation, an unemployment rate below 5% is needed”, Lowe added.
The perspective of reducing the RBA rate by 0.5% or more percent creates pressure on the Australian currency.
As soon as investors again pay attention to the American dollar, the AUD / USD pair will turn back "to the south". The US dollar looks preferable to other currencies due to the greater stability of the American economy.
Despite the current correctional growth, AUD / USD remains in a long-term bearish trend.
Below the key resistance levels of 0.7095 (EMA144 on the daily chart), 0.7148 (EMA200 on the daily chart) short positions remain preferable.
When the price reaches the resistance level of 0.7000 (ЕМА50 and the upper line of the downward channel on the daily chart), it is recommended to resume or increase sales with stops 20-30 points higher than this mark.
The immediate goal of the decline is located at 0.6830 (2016 lows).
Support Levels: 0.6923, 0.6900, 0.6830, 0.6800
Resistance Levels: 0.6973, 0.7000, 0.7095, 0.7148

Trading Scenarios

Sell ​​in the market. Stop Loss 0.7020. Take-Profit 0.6923, 0.6900, 0.6830, 0.6800
Buy Stop 0.7020. Stop Loss 0.6960. Take-Profit 0.7095, 0.7148

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