Yesterday I posted an AUSDUSD hourly asking whether the big support area between 1.0070-1.0120, and the bids it was therefore attracting, was just holding up the fall or supporting a decent reversal.
Last night’s price action in the wake of the RBA unchanged interest rate decision suggests the market was short and caught.
Now it’s a question of whether we’ve seen a short-term base or this a nice rally to sell into.
I favour the latter but what say you ?
