Reserve Bank of Australia (RBA) board members come to a consensus on where to set the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation, with an outcome of 1.5% which is the same as previous, it is apparent that the market sees this as safe to continue being bullish.

Daily Chart

Market is bullish, Price is bullish, just above 0.80000 breaking through resistance, I will be going long at the pull back on a lower time frame chart.

Source: MT4

H4 Chart

Market is slightly less bullish on this time frame, price is bullish, and currently at Weekly R1, using fib levels to confirm the retracement, I have placed a pending order in at fib level 38.2, holding this position for the month with a target of Monthly R2. (Price being 0.81000 at MR2, capturing a beautiful 1478 pips)

Source: MT4

H1 Chart

Source: Mt4

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