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maxw3st

AUDUSD deflating?

Short
Australian Dollar / U.S. Dollar (FOREXCOM:AUDUSD)  
maxw3st Updated   
FOREXCOM:AUDUSD   Australian Dollar / U.S. Dollar
Fundamental Analysis
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fundamental
snapshot
AU ran up over 300 pips in 3 weeks on the sentiment that the RBA would be tapering its bond purchases in the near term. At the rate decision of Sept 7 Lowe states that bond purchases at 4 billion per week will continue until "at least" Feb. 2022. The statement also repeats previous statements that there will be no rate increases until 2024 contingent upon a sustained improvement in employment and inflation in the 2–3% range. The pair should be bearish near term.
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Trade active:
Perhaps something like this.
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Trade active:
AU has dropped below the 3/8 line so continuation may be to around the 70% line at 0.7218
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Trade active:
It's either reversing or we're about to see some 0.71s. Probability is with the latter.
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