Will the Royal Bank of Australia cut rates today when they announce their decision. The market is leaning in favor of a .25% rate cut which will drive the AUD/USD pair about 50 pips lower.
Scenario two, leaving rates unchanged, creates more havoc and the Aussie dollar may climb 90 pips or more until it resistance just above 1.03.
My trading tip is sell 2 units now at market, putting a but stop order in for twice that approximately 10 pips above the initial sell. In this scenario, you will see profit regardless of the RBA rate decision.
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