The AUD/USD pair fell during the session on Tuesday, breaking below the 1.02 level for the first time in what seems like ages. This would’ve been predicated mainly upon the Reserve Bank of Australia cutting rates down to the 2.75% level. The statement was a little bit on the dummy sign, and as a result this has deflated the Aussie just a bit. However, we have not broken down below the ultimate short signal, the 1.01 handle. Until that happens, we simply cannot be involved in a market that is somewhat directionless at this point.
Written by FX Empire