TRADING
TIPS :
The Australian dollar was almost
unchanged against its U.S. counterpart on Tuesday, after the Reserve
Bank of Australia left interest rates unchanged and the release of
upbeat Australian data.AUD/USD hit 0.7154 during late Asian trade,
the session high; the pair subsequently consolidated at 0.7115. The
pair was likely to find support at 0.7067, the low of August 26 and
resistance at 0.7174, Monday’s high. In a widely expected move, the
RBA held its benchmark interest rate at a record-low 2.00% on
Tuesday. Commenting on the decision, RBA Governor Glenn Stevens said
the now four-month long pause on rates was “appropriate” given
the moderately growing Australian economy. Separately, the Australian
Bureau of Statistics reported that building approvals increased by
4.2% in July, beating expectations for a 2.5% rise. Building
approvals declined by 5.2% in June, whose figure was revised from a
previously estimated drop of 8.2%.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5340 TARGET 1.5360 1.5390 SL 1.5310
SELL
GBPUSD BELOW 1.5290 TARGET 1.5270 1.5240 SL 1.5320
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1340 TARGET 1.1360 1.1390 SL 1.1310
SELL
EURUSD BELOW 1.1235 TARGET 1.1215 1.1185 SL 1.1265
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