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Aussie: PBOC killed my viewpoint.

FX_IDC:AUDUSD   AUSTRALIAN DOLLAR / US DOLLAR
182 2 3
Indeed I am verry surprised about PBOC decision tonight.
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 :
- 0.7450
- Bearish trend line.
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.
JimJones
a year ago
haha
Reply
johncarter_oz
a year ago
I also dislike currency wars. China wants their currency to be a reserve currency and IMF not happy that China just pegs their currency to the US.
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....
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