Needless to say I believe that FED will hike rate on December and market would pricing for strong Dollar ahead the meeting. Last week, RBA disappointed market by keeping the rate at 2%, but it doesn't mean they will not cut rate anymore. I THINK THAT THEY WILL DO IN 2016. ONE MORE RATE CUT IS POSSIBLE AND 2% IS NOT THE FLOOR FOR RATE. The expectation of one more rate cut will drive Aussie lower.
is suppporting for weak Aussie while also reinforces for Fundamental.
Look at on the chart.
- A STANDARD HEAD AND SHOULDER PATTERN I RARELY SEE WHEN ANALIZE CHART. AUDUSD broke the neckline of head and shoulder pattern, it means the downtrend is confirmative.
- 0.7200 is a strong . AUDUSD was unsuccessful to break the and bounced from this level.
- The descending trend line: AUDUSD also rejected this . It also is SMA100
- AUDUSD tried to move above Kumo cloud, but unfortunately it again moved under the cloud to confirm for downtrend.
With those TA signals, I have enough clues to go to a conclusion that: We should drive Aussie lower to the year low 0.6900 even break it .