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RBA maintains cash rate at 4.35% Australian dollar extends slide The Australian dollar is down sharply for a second straight day. In the European session, AUD/USD is trading at 0.6561, down 0.88%. The Australian dollar has taken a tumble this week, falling 1.70%. RBA holds rates as expected The Reserve Bank of Australia maintained the […]

The post Australian Dollar Slides as RBA Holds Rates appeared first on Action Forex.

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15/08/2024

We Expect Norges Bank on Hold

In focus today Today’s main event will be Norges Bank announcing their policy rate decision. We expect Norges Bank to keep the policy rate unchanged at 4.50%. Developments since June have gone slightly in both directions, so we do not expect Norges Bank to send any new policy signals, but the risk is tilted towards […]
29/08/2024

EURGBP Flirts With Key Support Territory

EURGBP tumbles, but finds support near 0.8400 RSI and MACD detect bearish momentum But a break below 0.8380 is needed for further declines A move above 0.8500 could keep the picture neutral EURGBP has been in a steady slide since August 8, when it hit the key resistance zone of 0.8625. That said, the pair […]
06/02/2024

Bitcoin (BTCUSD) Looking to Extend Higher

Short Term Elliott Wave view in Bitcoin (BTCUSD) suggests the rally to 49500 on January 11, 2024 ended wave (3). Pullback in wave (4) is proposed complete at 38503.8 as the 1 hour chart below shows. Up from wave (4), wave (i) ended at 40526.3 and pullback in wave (ii) ended at 39419.8. The crypto […]