- On the 3-day chart, the pair has posted two red candles since the 8-8-2016 .
- The has an uptrend in place in the near-term, but this is part of a larger setting up a continuation pattern to the downside.
- The NZD data was all stronger than expected today. AUD data around employment comes tomorrow.
- While NZD data was positive, I am skeptical the AUD will be taken by the market well. There is substantial skepticism regarding the Chinese economy which has a significant impact on AUD.
- Weak numbers will solidify the RBA path to additional easing.
- This selloff could quickly run down to 1.0100