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20 May 2014
AUD/USD takes out stops ahead of RBA
FXStreet (Bali) - AUD/USD posted a new low of 0.9306 ahead of the RBA minutes releases, following a failed attempt to recover, which saw a session high of 0.9333 printed.
As Sean Lee, Founder at FXWW, notes: "It’s not unusual for bids and offers to be pulled ahead of risk events like the RBA minutes and it seems that is what has just happened. Once the heavy bids near .9315 were pulled, the stops below .9310 were immediately vulnerable."
As Sean Lee, Founder at FXWW, notes: "It’s not unusual for bids and offers to be pulled ahead of risk events like the RBA minutes and it seems that is what has just happened. Once the heavy bids near .9315 were pulled, the stops below .9310 were immediately vulnerable."