6A 09 12 (1 Min) 08.09.12

8/9/2012 Quarterly RBA Monetary Policy Statement (1530 HI time / 2130 EDT)
Forecast: n/a
Actual: n/a
DULL REACTION
Started @ 1.0536
1st Peak @ 1.0528 – 1534 (4 min)
8 ticks

Reverse to 1.0537 – 1540 (10 min)
9 ticks

Notes: No excitement on this report. Since the :31 bar only moved 6 ticks, your JOBB order would not have filled. With no fill in the first 10-15 seconds, cancel the order, but you would have been safe anyway. The volume was low and action was also stuck between the 3 major SMAs. The action could not go above the 200 SMA or below the area above the S1 Pivot, indicating nothing to drive the market.