Forex Zone (Forex Zone)
Czech markets  |  May 01, 2012 10:40:27

Australia has today the lowest interest rates since December 2009


Australia's central bank (RBA) today in announcing the interest rate markets by surprise. Participants expected rate cut by 0.25 points. RBA but aggressively cut its key interest rate to 3.75%, a decrease of 0.5 points. This step rates in Australia reached a level where we could record the last in December 2009. Australian and New Zealand dollar and discount stores continued to respond to in yesterday's sale, which affected virtually all major currencies except EUR risk.

Yesterday's developments EUR is a bit surprising for us, because in addition to risk falling currencies and U.S. stock indices, which are strongly correlated euro. EUR yesterday had a tendency to fall below our Friday so we trade short stop at 1.3220.

Our mental setting on the development of a pair EUR / USD remains the same. The strong resistance between 1.3275 to 1.3300 area we will look for short opportunities. In this area, we would also like to see greater input into the sales market.

We see the potential that the market will test yesterday's low (1.3208) and is still in the game to test a low of 24 4th and 23 4th Anyway, today some European countries have public holidays, during the European session so do not expect any major moves. At 16:00 will be announced but in the U.S. macro data. In addition, the U.S. is not a public holiday during the American session so we can wait for a stronger movement.

Read also:

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