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Technical Analysis
Forex Market Commentary By TitanFX
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[QUOTE="titanfx, post: 81059, member: 33464"] [b]AUDUSD Gains As RBA Holds Interest Rate[/b] [B][I]Key Highlights[/I][/B] • Aussie dollar surges higher against the US dollar, as the RBA kept the interest rates at 2.25%. • AUDUSD cleared a critical resistance area to open the doors for more gains moving ahead. • Australian Retail Sales released by the Australian Bureau of Statistics increased by 0.7% in February 2015, compared to the forecast of 0.4%. [B][I]RBA Interest Rate Decision[/I][/B] Earlier today, the RBA Interest Rate Decision was announced by the Reserve Bank of Australia. The market was not expecting the central bank to make any changes in the interest rates. The outcome was as expected, as the rate remained at 2.25%. The opening statement from the RBA stated that a “moderate growth in the global economy is expected in 2015, with the US economy continuing to strengthen, even as China's growth slows a little from last year's outcome”. [B][I]Technical Analysis[/I][/B] The Aussie dollar enjoyed good gains during the Asian session, as the economic releases in Australia were on the positive side. There was a bearish trend line on the 4-hour chart of the AUDUSD pair, which was breached recently. [IMG]http://s21.postimg.org/7aw1d98nr/AUDUSD_04_07_2015.png[/IMG] [B][I]US Economic Optimism Index[/I][/B] Today, during the NY session, the US Economic Optimism Index will be released by the Investor's Business Daily (IBD) TechnoMetrica Institute of Policy and Politics (TIPP). Let us see whether index can rise from the last reading of 49.1 or not. ------------------------------------------- [B][I]Posted by Aayush Jindal - 'Titan FX Currency Analyst'[/I][/B] [/QUOTE]
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