Aussies Trades Marginally Lower Ahead of RBA’s Cash Rate Decision, 35+ PIP Volatility Likely in AUD Parity; March 02, 2021

Australia Cash Rate Decision

Australia has scheduled to release official cash rate at 0330 GMT/0900 IST. Short term interest rates are the paramount factor in currency valuation – traders look at most other indicators merely to predict how rates will change in the future. Australia decreased the OCR to 0.10 from 0.25 pct on Oct 06, 2020. Thereafter, RBA kept key interest rate unchanged at 0.10 pct only. In today’s official meet too, markets expect interest rate to remains unchanged only. Now the focus turns to the policy RBA’s policy statement only.

Before a week only, RBA has purchased $7B bonds to keep 3 – year yields range as per the Reserve Bank’s target. Currently, RBA’s yields on 3-year government bonds rose as high as 0.148 pct on February 25, 2021 and still remain just over 3 -basis points higher than the RBA’s target. In addition, coronavirus updates and expected time for the economy recovery will remain important to forecast the future path of the parity.

Let’s see how AUD has reacted during the previous data release:

Feb 02:

Dec 01:

Technical View:

AUD/USD: Aussie trades marginally lower ahead of RBA’s cash rate decision. Today in early Asia, Australia released current account data with positive numbers while building approvals results disappointed to traders. A day chart with triple EMA suggests the bullish trend in long run but H1 chart has confirmed bearish trend in short run. A sustained close above $0.7785 on H1 chart requires for the upside rally. Alternatively, current downside movement will take the parity back below $0.7692 mark.

Key Resistances: $0.7785, $0.7799, $0.7820, $0.7866, $0.7905

Key Supports: $0.7692, $0.7676, $0.7622, $0.7599, $0.7540

Take a look and do trade wisely!
Good Luck

Share on facebook
Share on linkedin
Share on twitter
Share on telegram
Share on whatsapp
Unleash Powerful Trading Conditions with TP Global.

Recent Posts



Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown, Saint Vincent and the Grenadines.

Mail us

Drop mail at:

Contact us

Call or Whatsapp
+44 7441 416320

Risk Warning: Forex and Contracts for Difference (CFDs) are leveraged products. Trading in these products is highly speculative and involves substantial risk. Please note that even knowledgeable and well-experienced investors can experience large potential losses because of trading in Forex and CFDs. Consequently, investors should be fully aware of all the risks involved when trading Forex and CFDs and accept all the negative consequences associated with such trading. Please always remember that trading in Forex and CFDs might not be suitable for all investors. It is desirable investors who would consider trading, to do so only with money that they can afford to lose. You are also recommended to seek independent financial advice if necessary. The content on this website does not constitute financial or investment advice. Any information herein is of a general nature and does not take into consideration your personal circumstances, investment experience or current financial situation. Apple, the Apple logo, iPod, iPad, iPod touch, and iTunes are trademarks of Apple Inc, registered in the US and other countries. iPhone is a trademark of Apple Inc. App Store is a service mark of Apple Inc.

TP Global FX Limited is registered and regulated by Vanuatu Finance Service Commission (VFSC) with a registration number 40409.

TP Global Limited is registered and regulated by FINANCIAL SERVICES COMMISSION (FSC) MAURITIUS with a registration number GB21026474

TP Global FX Limited is registered and regulated by Financial Services Commission, Mauritius with a registration number GB21026474

TP Global Fx Africa Limited is incorporated in Federal Republic of Nigeria under the Companies and Allied matters Act 1990 with registration number RC 1674202. The objects of the company are all subject matters not forbidden by Companies and Allied Matters Act 1990. To provide Electronic Platform through which clients can choose currencies, commodities, indexes, CFDs and other leveraged financial instruments to trade.

mappin at-sign phone close