AUDUSD SELL | CPI, RBA Gov Lowe speaks | 31st May 2023
Fundamental Backdrop
Technical Confluences
Idea
Today's speech by RBA Gov Lowe indicates towards raising more interest rates in the future.
Based on previous data whenever the RBA raises interest rates, the AUD rises a few days before it drops.
We could see the AUD head towards the next support level at 0.64150 if interest rates are raised on 6th June.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
- RBA Gov Lowe spoke today
- He mentioned "Very Much in Data-Dependent Mode on Interest Rates", "
"Monetary Policy in Restrictive Territory"
- This means that the RBA is closely monitoring economic data and could potentially continue increasing interest rates
- CPI y/y also increased from 6.3% to 6.8%, this shows inflation is still on a strong rise which can lead to the increase in interest rates.
Technical Confluences
- Near-term resistance level at 0.65100
- Near-term support level at 0.64150
Idea
Today's speech by RBA Gov Lowe indicates towards raising more interest rates in the future.
Based on previous data whenever the RBA raises interest rates, the AUD rises a few days before it drops.
We could see the AUD head towards the next support level at 0.64150 if interest rates are raised on 6th June.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
