RBA cut interest rate from 2.50 to 2.25

RBA cut interest rate 2.25 from 2.50 its sell off for AUDUSD.

The AUDUSD looks good for a nice move higher. I like current levels below 0.7600 and think the upside potential outweighs the downside risk.

The Aussie has no business going any higher than 79 cents look for selling opportunities.

RBA trying to shift focus from a mining to construction Mahony started by commenting that the mining sector isn’t as reliable as before, with prices and demand for commodities falling. The RBA is attempting to diversify the Australian economy, and Mahony notes how the rise in GDP but fall in iron ore, which were previously entwined, elaborates the changing economy. Meanwhile, he adds unemployment is turning around after having been rising for many years in Australia.
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