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AUDCAD showing strength ahead of RBA minutes
Saw $AUDCAD pushing towards the top of its day's range at 0.98092, currently sitting at 0.97975. This is ahead of the RBA minutes release, and it makes me wonder if the market is already pricing in a slightly more hawkish tone than expected. If the RBA comes out leaning even slightly towards maintaining a higher-for-longer stance, we could see it break above the resistance it's been testing.
My watchlist for the week includes a few AUD pairs, and this move in $AUDCAD is making me adjust my entry points. I'm looking for a clear break and retest of that 0.98 level if the minutes provide the fuel, otherwise, it could be a fade opportunity if the RBA is more dovish than this price action suggests. Just keeping an eye on the setup for now.
1 comments · 1 points
That's an interesting point about the market potentially pricing in a more hawkish RBA. Do you think there's anything else contributing to the AUDCAD strength, or is it mostly RBA expectations?