According to a Reuters poll of 24 economists, Australia's central bank will hold its key interest rate at a record low of 0.10% at tomorrow's monetary policy meeting.
Preservation of the status quo at the end of the meeting on April 6 expects 23 respondents;
1 economist predicts a rate cut to 0.05%;
Economists expect rates to be maintained at current levels through the end of 2022.
The regulator itself said it does not intend to raise rates until inflation returns to its medium-term target range of 2-3%.
Our Analysis:
Provided that the currency pair is traded below 0.7660, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.7630
- Take Profit 1: 0.7615
- Take Profit 2: 0.7595
Alternative scenario:
In case of breakout of the level 0.7660, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.7660
- Take Profit 1: 0.7680
- Take Profit 2: 0.7770
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