There is no change to the AUDUSD technical outlook ahead of tonight’s RBA announcement. As long as price is below .7275, it remains possible that an A-B-C correction is complete (at .7275). A push through that level would expose the 100% extension of .6005-.7275, at .7566. Of note is today’s inside day. Inside days at the top of a range mark at least a pause in a trend and sometimes a top. Bottom line; beware of the post announcement price action since a wave pattern suggests that the AUDUSD could fall sharply.
