At this point it is pretty clean and simple. AUDUSD has drawn a Double Top pattern which could signal a steeper drop for the Australian dollar. The price pattern will be confirmed when the price will break the base line.
Fundamentals are not that good for Australia. Westpac Consumer sentiment dropped, Iron ore at September 2012 lows, China is not importing that much. We have the premises, just have to wait a bit longer for the confirmation.
Fundamentals are not that good for Australia. Westpac Consumer sentiment dropped, Iron ore at September 2012 lows, China is not importing that much. We have the premises, just have to wait a bit longer for the confirmation.