Lowe's dovish tone is surprised to the market as the announcement released yesterday keep optimistic to economy. He said "cutting rate is still on the table and the change of monetary policy will be balance", which is considered as the signal to cut rate next step.
On long term, we agree that Aussie will be bearish in 2019 coz the real estate is likely to to be worse in the latter half of this year. However, FED lowers its pace to raise rate and price of iron ore is climbing will support Aussie in Q1 and Q2.
Therefore, keep confidence on Aussie.
The target is 0.7185.
Turning point: 0.7115.
Above 0.7115, bullish , target price is 0.7095,then 0.7075.
Under 0.7115, bearish , target price is set at 0.7160, then 0.7185.
On long term, we agree that Aussie will be bearish in 2019 coz the real estate is likely to to be worse in the latter half of this year. However, FED lowers its pace to raise rate and price of iron ore is climbing will support Aussie in Q1 and Q2.
Therefore, keep confidence on Aussie.
The target is 0.7185.
Turning point: 0.7115.
Above 0.7115, bullish , target price is 0.7095,then 0.7075.
Under 0.7115, bearish , target price is set at 0.7160, then 0.7185.