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- After the strength shown overnight in the AUD and the overall weakness caused by QE
on the Euro
I have been monitoring this overvalued currency for sometime. On the daily chart
there is a nice engulfing
pattern indicating a change in trend and the long term fundamentals on the AUD could be at a pivitol point. I also have reaon to believe that the Chinese stock market could be on the vrge of turning bullish
which will will also support the AUD. With the higher yield of the AUD we can also use this as a carry trade and hold it for some time .