- Retail Sales : 0.4% for USD
- RBA's Governor Glens Stevens said that : A/U is now unhelpful. RBA might intervene to weaken Aussie.
- PMI of China is lower than expect.
And the most important information:
Look at on the chart, A/U has a strong corelation with GOLD price. Australia is a commodity export country such as gold , silver . If such sell off. It causes pressure on A/U greatly.
Investors are selling gold and buy stock , they think that stock now make more profit than gold . S&P and Dow are being strengthened by QE3 of FED. Hence, gold decreases as a result and causes A/U goes down.
That is .
A/U broke 0.93 level : strong level I show on the chart. If A/U is trade below this level, I think A/U wil continue . Moreover, A/U is now below . Signal for . I don't show on the chart because I don't want the chart so complicated.
In short, I think A/U will reaches to 0.91 target in the coming weeks.
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