RBA Sticks to Tapering Plan

RBA Sticks to Tapering Plan

2021-08-03 • Updated

4H Chart

AUDUSDH4 03 Aug 2021.png

Daily Chart

AUDUSDDaily 03 Aug 2021.png

The Reserve Bank of Australia decided to keep the current policy unchanged as widely expected. However, and against all odds, the bank took the first steps toward winding back emergency monetary stimulus for an economy that’s exceeded forecasts. The BRA made this move even though many saw the bank hinting for a possible increase in asset purchases amid partial lockdown in parts of the county due to the high rate of covid19 cases. Yet, the plan to taper by 1B in September could be a message that the RBA is seeing some inflation pressure on the horizon. In the meantime, AUD/USD is still in a retracement mode, which may target 0.7470 and 0.7530’s before the downside trend resumes. Therefore, I would long some AUD/USD around here 0.7380’s with a stop at today’s low only.

S3 S2 S1 Pivot R1 R2 R3
0.7252 0.7305 7333 0.7358 0.7386 0.7411 0.7464



What Can Drive Oil below $90 a Barrel?
What Can Drive Oil below $90 a Barrel?

The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.

Why is Oil's Rally in Danger?
Why is Oil's Rally in Danger?

Yes, oil prices are burning right now, and inflation is getting hotter along with it worldwide. However, the oil's bullish momentum is under threat.

Latest news

USD: Powell Speaks on Cutting Interest Rates
USD: Powell Speaks on Cutting Interest Rates

Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...

WTT: Currency Pairs To Trade In April
WTT: Currency Pairs To Trade In April

Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera