AUDUSD Techs Ahead of RBA

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.