Two factors I am watching closely: RBA interest rate and Iron ore price. if Iron falls then demand for AUD will fall. Expectations of an August interest rate cut have dropped following strong CPI result (0.6) vs. (0.5). That only provided a temporary rise in price as relentless selling continues. I don't see any other good news coming out of Aus.
Comment:
This is a great time to take profits, or half-profits.
Trade closed: target reached
