Keep confidence on Aussie in short term
Aussie keeps strong coz of weak US dollar. The market has made the consensus that FED won't rise rate until the latter half year. Aussie is stably supported by 0.7100.
However, the fundamental economy of Australia is under the risk of slowdown in economic growth.Today’s employment report is unlikely to see financial markets abandon the view that the RBA will need to cut Australia’s cash rate by the middle of next year. Thus, we think Aussie will drop and keep weaker from the latter half year.
The target is 0.7205.
Turning point: 0.7160.
Above 0.7160, bullish , target price is 0.7185,then 0.7205.
Under 0.7160, bearish , target price is set at 0.7130, then 0.7105.
Prior Strategy:
However, the fundamental economy of Australia is under the risk of slowdown in economic growth.Today’s employment report is unlikely to see financial markets abandon the view that the RBA will need to cut Australia’s cash rate by the middle of next year. Thus, we think Aussie will drop and keep weaker from the latter half year.
The target is 0.7205.
Turning point: 0.7160.
Above 0.7160, bullish , target price is 0.7185,then 0.7205.
Under 0.7160, bearish , target price is set at 0.7130, then 0.7105.
Prior Strategy:
Comment:
Target reached