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RBA Hikes Rates, 1.87000 In Play For The GBPAUD
Welcome to Tuesday’s trade! Business has picked up, with reversals from Monday’s price action occurring across the markets. Stocks are up, energies are down, and the USD is near flat. Metals are trading sideways, with copper (+2%) being the session’s big winner.
At this hour, the US/Iran ceasefire is on shaky ground. Monday brought kinetic exchanges between the US/Iran upon the launch of Operation Freedom. According to the US Secretary of War Pete Hegseth, “the ceasefire holds, but we will be watching very closely.” The situation remains fluid; stay tuned!
The early Tuesday forex session brought the latest interest rate decision from the Reserve Bank of Australia (RBA). The RBA raised rates 25 bps from 4.10% to 4.35% and warned of “hard times ahead.” Without question, the energy shock from the Iran War is beginning to drive inflationary fears around the world. This will be a trend to watch as we roll into the summer months.
Here is a natural support zone for the GBPAUD:
Big Round Number, 1.87000
Check out our Key Levels for more information on this Trade Idea.
That’s all for now. Keep a close eye on the Iran War for any news of escalation. Other than that, we’ll catch you on Wednesday's Switch Markets Live Stream (1:00 PM EST, Switch Markets on YouTube)!
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