Australian rate decision: Tuesday, 4:30. The Reserve Bank of Australia kept its interest rate unchanged since lowering it to 1.5% in August last year. No change is expected now. The focus is on the accompanying statement. Given the recent rise in the Aussie, Governor Lowe and his colleagues could try to talk down the currency.
AUD
Australian rate decision
- EURUSD
Update: Will the level of 1.1360 remain solid? A daily close below it will open the door for further downward movement. The pair is traded right above a strong key level (resistance) 1.1360 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1.1400 followed by 1.1500 during the week. On the other hand, breaching the level of 1.1360 will open the door for further downward movement during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.1550 ▪-1.1500 ▪ 1.1450 |
▪ 1.1360 ▪-1.1300 ▪ 1.1250 |
We remain bullish as long as the pair is traded above the level of 1.1360. |
- GBPUSD
Update: We remain the same. As could be seen on the chart above that the pair is traded right below a strong resistance level that could be found around 1.3040 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.3000 followed by 1.2900 during the week. On the other hand, breaching the level of 1.3040 will open the door for further upward movement during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.3040 ▪-1.3100 |
▪ 1.2900 ▪ 1.2800 ▪ — |
We remain bearish as long as the pair is traded below the level of 1.3000 |
- GOLD
Update: the uptrend line is broken and now the pair is traded right above a strong support level around 1215. If the level of 1215 is broken, then the way would be open for the pair to reach the level of 1200.Regardless the last downward movement that could be clearly seen on the chart above, the pair is facing a strong support level which is the uptrend line shown on the chart so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1250 followed by 1265 during the week. On the other hand, breaching the level of 1225 along with the uptrend line shown in red on the chart will open the door for further downward movement during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1270 ▪ 1265 ▪ 1250 |
▪ 1225 ▪ 1220 ▪ 1210 |
We remain bullish as long as the pair is traded above the level of 1240 |
- AUDUSD
Update: the pair is on its way to its final target. As could be seen on the chart above that the pair is traded right below a strong resistance level that could be found around the level of 0.7725 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 0.7650 followed by 0.7600 during the week. On the other hand, breaching the level of 0.7725 can open the door for further upward movement during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.7725 ▪-0.7800 ▪ 0.7850 |
▪ 0.7635 ▪ 0.7600 ▪ 0.7550 |
We remain bearish as long as the pair is traded below the level of 0.7725. |
- GBPJPY
Update: we remain the same. The pair is in a strong uptrend as could be seen on the chart above. So, it may continue going up to reach the level of 148 then a pullback is expected if the pair shows some negative factors right below the level of 148.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 148 ▪ 147.95 ▪ |
▪ 145 ▪ 144 ▪ 143 |
We remain bearish as long as the pair is traded below the level of 148. |
