Current situation. AUD/USD is drifting slightly on the offer side awaiting for the RBA quarterly Stamement on Monetary Policy which involves forecasting of growth and inflation levels. As it seems, there will be no significant changes to the outlook since there were just few changes to the monetary policy stance mentioned in the post decision press release a couple of days ago. As usual when those kind of information are published, nobody really knows what will happen at least. However my personal view is posted in my chart below.

If you like viewing things in the longer term as i do (forget a moment about macroeconomics or sentiment and enjoy the technical view, you may notice what i noted since longer time), i am sure that my personal prediction will keep you up well if you like to handle position trades as i do in my live accounts.



I am long since 0.90234 (ok not the best entry but a good ride till now). The reason is a very simple one. If you look at the chart pattern in the W1, you will notice an inverted HS formation which starts to build up since spring 2013. In regards to the current situation in australia i am very sure that the aussie is either overvalued, but strong enough to move up further. So my personal exit is planned as for 0.96600.

Wishing all Aussie Traders success tonite and in the long term.

AL
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