I dislike this Currency War.
Why do they kill themselve by depreciate their currency ?
Aussie hit hard after the decision, falling more than 1.3%
In the begining of week, I belive Fundamental Change will contribute to the bid of Aussie, but PBOC destroyed my view point.
Look at on the chart, AUDUSD rejects key strong resistance :
With the bounce from those resistances, I think AUDUSD will follow the downtrend,and difficultly recover from the resistance.
I want to SELL AUDUSD now.
The AUSSIE Reserve Bank also wants a weaker currency. Good for exports and tourists - apparently - definitely not good for our investments abroad!!!
I fear the Aussie has much more down pressure before it comes back up....