RBA supported Australian rate
Tatiana Norkina, FBS analyst
The Australian is growing significantly against the dollar today, after the RBA decision to keep the interest rate at 2.25%. The currency pair rate has skyrocketed to the 77th figure, testing the four-hour Ichimoku cloud lower border at the moment.
Thus, the short-term trend has changed to bullish – the Tenkan and Kijun lines have formed a golden cross and started to go upwards.
However, the main downtrend is still relevant, since the cloud, as we see, is not going to change its character quickly. The prices are obvious to test the cloud's upper border soon, then we are expecting the rate's decrease into the cloud's lower border area.
Technical levels: support – 0.7650, 0.7620; resistance – 0.7730.
2. Sell — 0.7730; SL — 0.7750; TP1 — 0.7650; TP2 — 0.7620.