AUDCAD - Bullish Bias
AUD - BULLISH
1️⃣ The RBA held the cash rate target at a record low 0.1%, kept the size of its A$200 billion bond-buying program, affirming its commitment to maintaining supportive monetary stance until at least 2024, while also signaling it is prepared to buy further bonds than its current $200 billion program if that helped lower the jobless rate and spur wage growth.
2️⃣ Job advertisements rose by 7.4% mom to the highest in twelve years of 190,542 in March, 10th straight month of gain.
CAD - BEARISH
1️⃣ Concerns still exist about the prospect of producers returning significant amounts of crude to the market over the next three months.
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Technical
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- We are looking to buy the AUDCAD at RBS + above SMA 50 on the H1 chart.
- RSI showed a bullish direction for this pair.
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Risk to this trade
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Any change in sentiment could turn the pair's direction.
1️⃣ The RBA held the cash rate target at a record low 0.1%, kept the size of its A$200 billion bond-buying program, affirming its commitment to maintaining supportive monetary stance until at least 2024, while also signaling it is prepared to buy further bonds than its current $200 billion program if that helped lower the jobless rate and spur wage growth.
2️⃣ Job advertisements rose by 7.4% mom to the highest in twelve years of 190,542 in March, 10th straight month of gain.
CAD - BEARISH
1️⃣ Concerns still exist about the prospect of producers returning significant amounts of crude to the market over the next three months.
=====
Technical
=====
- We are looking to buy the AUDCAD at RBS + above SMA 50 on the H1 chart.
- RSI showed a bullish direction for this pair.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.