We have a RBA meeting coming up. Rates expected to remain on hold. Paying attention to the language used. I want to see what the RBA has to say about the exchange rate and recent inflation data. What risks or opportunities should we be paying attention to in the forecast period?


Bears selling at MM3 have a target of MM1. Bulls are looking to buy at MM2 with a target of MM4.


Nice lower low with price reaching last week's bearish target. A pullback to this week's central gives bears a good price to sell with a target of WS2 (MM1 just below) Bulls would need a double bottom at MM2/ WM2 confluence.


Bulls did not buy at MM2. On this time frame the range is still in tact with price at the bottom of the range. With price not bouncing at MM2 MM1/ MS2 is a possible target. Price could also return to the top of the range though why didn't bulls buy at MM2?


A pullback to this week's central would give bears a good price for a short down to WS2. This week's bearish target is also the monthly target for Feb. Price will be opening at WM2 so bulls will be looking for a setup with a target of WM4/ top of the range.

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