AUDUSD Bear Bias into Monetary Policy Meeting Minutes

Technical Analysis

Video Analysis 1

Video Analysis 2

Tuesday sees the release of the Minutes of April 2015 Monetary Policy Meeting of the Reserve Bank Board at 11.30 a.m. AEST. This should give some valuable insight after the Monday speech by Governor Stevens and recent speculation about the path of future interest rate policy.

AUDUSD Technical Outlook

A notable setback Monday as a deeper correction likely, as we stated in our last report that “the slowed ascent leaves a consolidation bias for Monday” and we looked for a downside risk to the digestion theme.

The better recovery effort last week above .7741 signalled a small base to shift the short/ intermediate-term outlook to a range theme.

For Today:

  • We see a downside bias for .7669; break here aims for .7600.
  • But above .7776 opens risk up to .7843/50, which we would look to try to cap.

Short/ Intermediate-term Range Parameters: We see the range defined by .7938 and .7533.

Range Breakout Challenge

  • Upside: Above .7938 aims higher for .8027/62 and .8224/34.
  • Downside: Below .7533 sees risk lower for .7500 and .7267.

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