9/17/2012 RBA Monetary Policy Meeting Minutes (1530 HI time / 2130 EDT)
Started @ 1.0378
1st Peak @ 1.0353 – 1531 (1 min)
Reversal to 1.0403 – 1611 (41 min)
Notes: Healthy short spike for 25 ticks that was able to sustain most of its drop to the expiration of the :31 bar. The spike crossed the 50 SMA about 1/3 the way down its path and hit resistance just above the S1 Pivot. With JOBB, you would have filled short with 1-2 ticks of slippage at about 1.0371, then had an opportunity to close out at about 1.0355 where it hovered near the bottom for 16 ticks. The reversal was able to recover the drop fairly quickly hitting resistance on the 100 and 200 SMAs, then slowly climbing for another 20 ticks as it crossed the PP Pivot. It all the reversal snared 50 ticks in 41 min as volume was drying up.