As expected, the RBA kept the interest rate in Australia at 1.5%. The decision was published today at 04:30 (GMT).
The volatility in the pair AUD/USD at the time of the decision was about 20 points. With the opening of today's trading day to the beginning of the European session, the pair also increased by 20 points to around 0.7545.
Although in the last 3 trading sessions, the AUD/USD is growing, the pair is in a downtrend. Today, the pair has reached an important resistance level of 0.7545 (the upper limit of the descending channel on the 4-hour chart, EMA144 on the daily and 4-hour charts).
On the 1-hour and 4-hour charts the OsMA and Stochastic indicators unfold to short positions.
The return under the levels of 0.7535 (EMA200 on the daily chart), 0.7512 (EMA200 on the 1-hour chart) will confirm the downward dynamics of the pair AUD / USD. The breakdown of the support levels of 0.7475 (April lows), 0.7460 (the Fibonacci level of 23.6% of the correction to the fall wave of the pair since July 2014), 0.7435 (the bottom line of the descending channel on the daily chart) will raise the risks of return to the downtrend of the AUD / USD pair, which began In July 2014. The medium-term goal of this decline will be the level of 0.7155 (May and December minima of 2016).
An alternative scenario is associated with the buildup of a positive momentum and consolidation of the AUD/USD above the resistance level of 0.7545. If this scenario develops, the pair AUD / USD may rise to the levels of 0.7610, 0.7680, 0.7760, 0.7840 (the Fibonacci level of 38.2% correction to the wave of decline of the pair from July 2014 and EMA144 on the weekly chart).
The levels of 0.7570, 0.7512 become decisive. Breakdown of one of these levels will create the prerequisites for the development of dynamics in this direction.
Support levels: 0.7535, 0.7512, 0.7475, 0.7460, 0.7435, 0.7330
Resistance levels: 0.7570, 0.7610, 0.7680, 0.7760, 0.7800, 0.7840
Trading recommendations
Sell Stop 0.7520. Stop-Loss 0.7575. Take-Profit 0.7500, 0.7475, 0.7460, 0.7435, 0.7400, 0.7330
Buy Stop 0.7575. Stop-Loss 0.7520. Take-Profit 0.7610, 0.7680, 0.7760, 0.7800, 0.7840
