AUDUSD: growth after the RBA meeting

Buy on a level breakthrough of 0.7281 with 0.7381 target. Stop loss = 0.7231.

Reason for the trading strategy

The RBA has kept its key interest rate unchanged at 2%, as expected. The regulator's statement about the Australian dollar's adjustment to a significant reduction in the commodity prices has supported the national currency. In addition, the increase in Australia's business activity index in the manufacturing sector from 50.2 p. to 52.2 p. in November contributed to the AUD/USD pair testing the resistance level of 0.7281.

AUDUSD: growth after the RBA meeting

AUDUSD: growth after the RBA meeting

Buy on a level breakthrough of 0.7217 with 0.7296 target. Stop loss = 0.7160.

Reason for the trading strategy

The Reserve Bank of Australia has kept its key interest rate unchanged at 2%. According to the RBA, the prospects for improving the state of the economy have become more real. Maintaining a tighter monetary policy in Australia served as a reason for the market participants to play on the Aussie increase.

AUDUSD: growth after the RBA meeting