Forex calendar snapshot: RBA cash rate & RBA rate statement
Tuesday 01 May 2012:
- RBA cash rate announced at Singapore time 12.30 pm
- RBA rate statement at same time
- Expected 4.00% from 4.25%
- Outcome 3.75%
AUDUSD at resistance so risk-reward clearly for shorting
Markets were not forecasting at 0.5% reduction. However the risk-reward proposition was clearly for shorting since the pair found resistance at April high the day before.
Hourly chart shows AUDUSD breaking down a short term trend line
Candles at hourly chart shows that previous uptrend line did not offer any support at all. Suggests that market may have anticipated the results.
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