AUD/NZD is down after RBA

AUD/NZD is down after RBA

Trade idea

SELL 1.0745; TP 1.0710; SL 1.0760

AUD/NZD has once again turned down from 1.0800 (the 61.8% Fibo of the 2018 decline) as the AUD got hit by the RBA’s decision to cut its interest rate. The near-term support is at 1.0750/45. The fall below this level will bring the pair to 1.0710. This is just above the 100- and 200-week MAs, so it’s too risky to bet on a bigger decline.   

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Latest news

GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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