RBA Statement on Monetary Policy

Give the market some time...it will let you know which way to trade. You have some good support at .9200-20 area and resistance around .9300-30 levels. No point of gambling with your money here at .9250 area imho.

Good comments on here...glad to see a thread where there's no arguing or fighting on different opinions.

For those who went long, hope you took some profits...if not, don't let a winner turn into a loser. Trade smart!

Same old sentiment for now...

"In the Board's judgement, monetary policy is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target. On present indications, the most prudent course is likely to be a period of stability in interest rates."

The RBA is confirming its neutral view. As we had expected it is sitting back and waiting for further developments. After all it continues to see moderate growth with no strong rise in inflation pressure as wage growth is moderate. It has not been saying any more about the AUD than in May. Based on historic standards it still considers the exchange rate to be high, in particular against the background of falling commodity prices. Not a word about an "uncomfortably high" AUD as was the case a few months ago.

-We underlined repeatedly that there is not much more the RBA can do about a strong AUD anyway than dampening further appreciation verbally as it abandoned its dovish approach months ago and will likely face rate hikes medium term. Active interventions would therefore contravene future monetary policy. Moreover the economy is developing well with the structural transition away from mining towards other sectors slowly making progress.

-At AUD-USD levels around 0.92-0.94 or lower at best the structural changes can slowly continue. So everything all told a quite comfortable position for the RBA, which justifies its neutral position. Q1 GDP data will be the proof of the pudding tomorrow that the economy is growing well. As a result AUD-USD push a little higher again, while 0.95 continues to cap.

well said.

Go long for AUD

buy - buy.. no doubt

.9280 is a good Resistance area to sell, not now

Dovish?

Buy as they have mentioned risk spread remains low.

"Financial conditions overall remain very accommodative". Also this statement is to be considered. AUS mkt sets the pace for LONDON and US. I mean for today.

Overall its not dovish. They have notified that emerging markets are receiving ......So some backup is there.

sell at 1.10200 where the 50 resistance level is sitting pretty.

Price is not moving as freely as yesterday - when building approvals data disappointed. There's no smooth trending pattern today. Could be lack of volume, but IMO the RBA has been successfully vague.

I entered short on EUR/AUD on a strong bearish initial move. Its currently sitting right at the daily Pivot. Hopefully I made the right call. The daily chart looks like it confirms my bias but I haven't been having much luck lately so who knows.

Buy or Sell ? Huh confused ")

I agree with most sentiments here: Lets buy ..

This pair is way overbought, I am selling this AUDNZD short

I think above mentioned new is very positive and have a great effect on market so we should execute a long trade at 0.9260 and TP is around about 9300.

There is no change in sentiment or fundamentals to warrant buying AUDUSD. Most indicators are still weak. We expect it to take a breather for a week or so before the selling commences.

Is it buy for AUDUSD? Pls share your opinion..thanks

GDP news might help to change things for tomorrow!

I dont agree, i think that aussi should closer trade around 0.88 than at 0.93 so im bearish i think at the moment is great level to short for longer time of period

9280 9285 93 9320 are the shorting area

sell TP 0.8975

the market will move between 0.9260 to 0.9300 for today.