KQMarkets

AUDUSD - Short - Post RBA

Short
OANDA:AUDUSD   Australian Dollar / U.S. Dollar
We currently see AUDUSD falling lower and today Debelle indicated that a weaker Australian Dollar would be beneficial. Despite the RBA in the past suggesting that further rate cuts will not necessarily stimulate the weakening Australian economy if it's struggles continue and unemployment rises we feel the RBA may be forced to cut rates below the current level of 1%. Therefore we see the currency pair falling below 0.67 and there should be downward pressure unless prices rise above the 0.70 psychological level.

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