Jul 162012

6A 09 12 (1 Min) 07.16.12

7/16/2012 RBA Monetary Policy Meeting Minutes (1530 HI time / 2130 EDT)
Forecast: n/a
Actual: n/a
Started @ 1.0225
1st Peak @ 1.0239 – 1531 (1 min)
14 ticks

Reverse to 1.0225 – 1535 (5 min)
14 ticks

Notes: Quick spike and reversal with little fanfare. The market went long initially for 14 ticks to the high of the day, but could not hold onto its gains as it retraced from the top of the wick to fall back to the origin on the next bar. No major SMAs were crossed as the market had rallied before the report, but the R2 Pivot weighed on the action at 1.0235. The market stayed locked in the same range for another hour, unable to escape until it broke out long for a few more ticks.