ridethepig | AUD Market Commentary 2019.12.17

A good time to update the AUD chart-pack after the updates from a dovish RBA. Soft on wages and consumption with emphasis on outlook reassessment in Feb. Unless we see the domestic story pickup dramatically in Australia it will continue to keep AUD stuck in low gear. Support is found here at 0.685x and sizes I’m seeing should be enough to carry us towards the widely tracked 0.695x target:

Buying dips makes sense...

Bulls in full control:

Macro Chart suggests a lot of upside for AUD:

NZD dips are also starting to look more attractive:

Thanks for keeping the support coming with likes, comments and etc. Good luck all those buying dips in AUD.

Trade active

Comment:

Eyes on the open for those wanting to front run positive AUD data.

Comment:

Superb employment data from AUD as widely anticipated and mentioned here and in the macro channel. Good luck all those trading the leg towards 0.695x

Comment:

First targets at 0.690x cleared... we will need a hand to complete 0.695x before Christmas.

Trade closed: target reached:

Second targets at 0.695x hit!!!! Well done those riding the pig.