The AUD tried to crack 69c but ran out of steam and is now shop,wing signs of heavy exhaustion.
RBA commentary - Aus economy is weak, interest rates to cut next week, wages growth slow, unemployment ticking up. More cuts likely. If Iron Ore drops this will make the Aus economy even more vulnerable.
RBA commentary - Aus economy is weak, interest rates to cut next week, wages growth slow, unemployment ticking up. More cuts likely. If Iron Ore drops this will make the Aus economy even more vulnerable.
Comment:
The AUD has fallen sharply after the RBA cut rates and signalled a willingness to cut further to 0.5%. Stay short until this move loses momentum.
Comment:
The AUD is about to fall through its long term low. This is a very bearish sign. Combined with apparent USD strength across all pairs do not close this trade.
Comment:
AUD looks like it is hanging by a thread at the moment. Expect more selling ahead.