EURAUD - Will RBA weaken the Aussie this week?

FX:EURAUD   欧元/澳元
The Aussie has been rallying strongly since the last RBA Rate Statement, and coupled with the weakness on the US Dollar , the AUDUSD has gained more than 6% in the last 30 days. As often stated in the RBA Rate Statement, rising Aussie will complicate the economic transition. Given the RBA is meeting this week, will they send out a dovish tone to push the Aussie lower?

Should that happen, we will be focusing on EURAUD for a potential long opportunity.

Price has recently bounced strongly after hitting the target at 1.4478, giving us the expectation that we can now expect one more wave ( 5-wave ) up towards 1.5032 - 1.5409 region.

Combining with the potential of a year end tapering from ECB, we are currently holding on to a bullish bias on the EUR.

What would be a better opportunity combining the fundamental forces of EUR and AUD, if RBA were to adopt a dovish tone this week.

*Disclaimer - these are all just my personal observation and perspective of the market. Make sure you do your own due diligence before taking any trades.
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