[trader123]

[quote=trader123;60415]AUDUSD looks oversold

Techically AUDUSD looks oversold based on stochastics, with good support at around 0.9300.

Short term chart shows that AUDUSD is picking up from a base of 0.9280.

Market expects Reserve Bank of Australia to keep its benchmarket rate at 7.25% tomorrow. I predict RBA to keep interest rate the same. So I expect AUDUSD to move higher after the announcement.

Bought 20,000 AUDUSD at 0.9334
Stop level at 0.9260
Target level at 0.9450

Yesterday I had bought 20,000 AUDUSD at 0.9334, stop level at 0.9260, target level at 0.9450.

Crude oil price has plunged last night pulling AUDUSD lower. After RBA announced interest rate unchanged, AUDUSD plunged and hit my stop.

Realised loss is US$148.00.