After a strong recovery the Australian dollar moved to the level of 0.98 yesterday and fell considerably after the policy statement of the Reserve Bank of Australia. The entity left, unchanged interest rate at 2.75%, as expected, however, if you look at the graph this pair has left a gap at the beginning of the week, 0.9566. Given that this pair is showing a bearish sequence it is likely that if the continuing decline arrives to cover this gap, we can place our buy order around this level, target again until the second month of 0.9766 resistance. On the other hand, the Momentum Indicator is showing bearish signal, it will be confirmed if on the 4-hour charts the pair trades below 0.9670.
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