Nothing much happening in Asia this morning and I’m thinking we may see some short covering before the RBA rate decision, which is in 3 hours time. EUR/USD currently doesn’t have the momentum to break below 1.4050 and what can’t go down, usually goes up. I still believe that we are in a sell-rally phase, especially for EUR/USD, but we may see a relief rally first.
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AUD/USD: May see some short-covering pre-RBA
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