Daily Market Updates: AUD/CAD Breaks Key Support After RBA Hike , Is a Bigger Bearish Reversal Beginning?

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AUD/CAD Breaks Key Support After RBA Hike , Is a Bigger Bearish Reversal Beginning?

Reported · Written up by our desk · Major Pairs

The RBA raised its cash rate 25bps to 4.85% on a split 6–3 vote, dropped its explicit tightening bias and signalled a pause for assessment, so the Australian Dollar fell despite sharply higher inflation forecasts. AUD/CAD broke structural support at 0.9778, and the next tests are 0.9722 and the 55-week EMA near 0.9660. The post AUD/CAD Breaks Key Support After RBA Hike , Is a Bigger Bearish Reversal Beginning? appeared first on ActionForex .

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Action ForexAUD/CAD Breaks Key Support After RBA Hike , Is a Bigger Bearish Reversal Beginning?

Forex

AUD/CAD Breaks Key Support After RBA Hike , Is a Bigger Bearish Reversal Beginning?

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