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[QUOTE="Antony_NPBFX, post: 215640, member: 38727"] [size=5][b]AUD/USD: the RBA decision supports the quotes 09.12.2022[/b][/size] Good afternoon, dear forum visitors! [url=http://www.npbfx.com/?utm_campaign=company&utm_medium=forumpost&utm_source=earnforex.com]NPBFX[/url] offers the latest release of analytics on AUD/USD for a better understanding of the current market situation and more efficient trading. [b]Current trend[/b] The Australian dollar shows moderate growth, recovering from a strong decline at the beginning of the week, when the AUD/USD pair retreated from its local highs from September 13. The instrument is testing the level of 0.6800 for a breakout, taking advantage of the strengthening of corrective sentiments in the US currency. This week, the Reserve Bank of Australia (RBA) raised interest rates by 25 basis points to a 10-year high of 3.1%. This was already the eighth adjustment since May, and in total the indicator has already added 300 basis points. The Governor of the regulator, Philip Lowe, said that officials will continue to have a "hawkish" monetary policy to combat record inflation, but will base their decisions on macroeconomic data, as well as an assessment of the outlook for inflation and the labor market. The January Consumer Price Index report is likely to show an increase to 8.0% in the fourth quarter, but in 2024, according to preliminary estimates, the figure may drop to 3.0%, while Gross Domestic Product (GDP) in 2023-2024 is expected at the level of 1.5%. However, a more confident growth of the Australian dollar is hampered by ambiguous macroeconomic statistics from Australia and China. Australian data released yesterday showed exports down 1.0% in October after rising 7.0% a month earlier, while Imports also fell 1.0% after rising 0.4% in September. As a result, the Trade Surplus corrected from 12.444 million Australian dollars to 12.217 million Australian dollars. In turn, today's data from China disappointed investors with a 0.2% fall in the Consumer Price Index in November after rising by 0.1% in the previous month, and in annual terms, inflation slowed down from 2.1% to 1.6%, which turned out to be better than analysts' expectations of a reduction to 1.0%. [b]Support and resistance[/b] Bollinger Bands in D1 chart show moderate growth. The price range is actively narrowing, pointing at ambiguous nature of trading this week. MACD indicator is growing, forming a new buy signal (located above the signal line). Stochastic shows a similar trend, bouncing off the "20" level in the middle of the week. Current showings of the indicators do not contradict the development of the "bullish" trend in the near future. Resistance levels: 0.6800, 0.6850, 0.6900, 0.6950. Support levels: 0.6750, 0.6700, 0.6650, 0.6583. [img]https://i.ibb.co/rMYWnJt/AUDUSD091222-33.png[/img] [img]https://i.ibb.co/fG1FNwJ/AUDUSD091222-333.png[/img] [b]Trading tips [/b] Long positions can be opened after a breakout of 0.6800 with the target of 0.6900. Stop-loss — 0.6750. Implementation time: 1-2 days. A rebound from 0.6800 as from resistance, followed by a breakdown of 0.6750 may become a signal for opening of new short positions with the target at 0.6650. Stop-loss — 0.6800. [b]Use more opportunities of the NPBFX analytical portal: glossary[/b] Beginning traders certainly face a lot of specialized concepts and lexicon on FOREX, which are often not fully been understood. Swap, tick, hedge, margin calls are often unfamiliar to beginning traders. But the lack of knowledge of these fundamentals make a competent market vision impossible. So glossary on the NPBFX analytical portal could be an excellent helper in this case, which contains all the main definitions with explanations in a compact and accessible form. All concepts are arranged in alphabetical order, so that you can easily and quickly find and explore a new concept for yourself. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on AUD/USD and trade efficiently with [url=https://my.npbfx.com/register/?utm_campaign=register&utm_medium=forumpost&utm_source=earnforex.com]NPBFX[/url]. [/QUOTE]
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