# AUD/USD: RBA Interest Rate Cut Setup (May 7, 2013) Source: https://www.tradersway.com/resources/market-info/aud-usd-rba-interest-rate-cut-setup-may-7-2013/ Language: en Updated: 2013-05-07 Description: Explore AUD/USD: RBA Interest Rate Cut Setup (May 7, 2013). The RBA. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. The RBA just cut interest rates by 25 basis points from 3.00% to 2.75% earlier in today’s Asian session. This pushed AUD/USD below the support level around 1.0230 to a low of 1.0178 right after the statement. In past rate decisions where the RBA cut interest rates, the pair usually makes a strong break to the downside then makes a small retracement prior to the European session. The pair could still pull up to the 38.2% Fibonacci retracement level before heading any lower in the later trading sessions. ![AUD/USD: RBA Interest Rate Cut Setup (May 7, 2013)] A good entry point could be the 1.0230 mark, which is in line with the 38.2% Fib and the former support level. Stochastic is already heading lower on the 15-minute chart though, which suggests a further move down. After all, European and American traders have yet to react to the surprise rate cut earlier today. A stop above the highest Fib level or at 1.0300 with a target of 100 pips or more would yield a good reward-to-risk ratio for a day trade. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/aud-usd-rba-interest-rate-cut-setup-may-7-2013/#primary", "url": "https://www.tradersway.com/resources/market-info/aud-usd-rba-interest-rate-cut-setup-may-7-2013/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/aud-usd-rba-interest-rate-cut-setup-may-7-2013/", "headline": "AUD/USD: RBA Interest Rate Cut Setup (May 7, 2013)", "inLanguage": "en", "datePublished": "2013-05-07T11:31:11+00:00", "dateModified": "2013-05-07T11:31:11+00:00", "articleSection": "Market Info", "description": "Explore AUD/USD: RBA Interest Rate Cut Setup (May 7, 2013). The RBA. 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