The Reserve Bank of Australia has left interest rates unchanged at 2.50%. It should be noted that the head of the RBA Glenn Stevens stressed that further interest rate cuts are not expected in the near future. It was noted that balanced growth is expected in Australia. The rise of inflation in the fourth quarter of 2013 to 2.7% compared with the same period last year leaves fewer options for monetary policy easing. Despite this we maintain a long term negative outlook on quotations of AUD/USD.
Now the price is consolidating near the level 0.89 and can go up to 0.90. In this case we recommend opening short positions with the target price near the lower boundary of the local downstream channel.
Wish you the profits!
FXFINPRO Capital Analytical department.