Hello everyone!
Reaching low point for the first time below 1.0300 since March 25, 2019, FX:AUDNZD enters support zone and we could see long term bullish trend.
Any ideas, leave your comments.
Rationale:
- Although recent GDP growth figures have exceeded expectations, there are signs that the Chinese economy is becoming more unbalanced; $MS predicts a Chinese slowdown, potentially reducing demand-side pressure for iron ore (and /cl's failure to maintain above 50 will only aid supply-side capacity)
- I maintain a bullish stance on $ as I believe that the...
