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It’s just a few hours away before the announcement of key interest rates from Reserve Bank of Australia (RBA) for AUD. All technicals seem to be pointing a bear for the AUD.

AUD/ USD 4 Hour Chart

200 EMA/SMA is right at the bottom with a trendline which looks very vulnerable to break. MACD/ Stochastics is looking and waiting for the decisive moment to crossover as well.

AUD/ USD 1 Hour Chart

AUD/USD 30 Minutes Chart

200 EMA/SMA is on top, MACD is below, we’re looking at a perfect setup for entry with the MACD converging to the bottom. I’m always referring to 30 minutes chart for entry, 1 hour/ 4 hours chart for trend and indication.

I’m opening a position at 0.9539, with a stop loss position of -30 pips, I’m expecting AUDUSD to breach the trendline at 0.9507.

Here’re some supportive Fundamental Anaylsis from Others

1. TradeTheNews’s Eben on A few thoughts on trading AUD/USD ahead of RBA rate decision at 0:30 EDT
2. DailyFX’s John Riveria on Will A Hawkish RBA Lead To A Fresh AUDUSD Multi Decade High?

Shalom, and good luck.

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