An opportunity to trade the AUD.

An opportunity to trade the AUD.

The Reserve bank of Australia (RBA) is going to deliver its statement at 5:30 MT time on November 6.

The statement will contain an outlook on the monetary policy of the country and offer clues on future rate decisions. For now, AUD/USD has been trading within a long-term downward channel. That is why it is so important to follow RBA’s comments.

• If the RBA comments are hawkish, the AUD will rise.

• If the RBA comments are dovish, the AUD will fall.

Check the economic calendar

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Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

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