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AUD/USD Jumps to 0.7840 after RBA leaves Cash Rate Unchanged

Posted by Chris Advincula on Mar 2, 2015 11:53:00 PM

AUD.3.3.2015.1AM resized 600Chart: WorldWideMarkets Alpha Trader

The Reserve Bank of Australia keeps their Cast Rate unchanged at 2.25% contrary to the widely forecasted easing of 25 basis points. The Aussie Dollar jumped 70 points to 0.7840 from 0.7770 following the RBA rate announcement. (3:30am GMT)

RBA Statement: It was appropriate to hold interest rates steady for the time being.

Further easing of policy may be appropriate over the period ahead, in order to foster sustainable growth in demand and inflation consistent with target.

The Board will further assess the case for such action at forthcoming meetings.

Fibonacci Retracement 61.8% reached at 0.7840.

Resistance: 0.7850, 0.7883, 0.7895, 0.7905

Support: 0.7750, 0.7738, 0.7725 0.7675

Topics: RBA, forex trading, technical analysis, Fundamental Analysis, Australian Dollar

 

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