Well, maybe not that low, but bearish nonetheless. Similar picture to CNYAUS. I always say this, and I will say it again, nothing I say is financial advice. Think for yourselves! Fibonacci goals in green or purple, invalidation is in red. Fractals never lie and Fibonacci series shows us a few goals out of a million or more possibilities.
The Australian dollar bounced off its lows today in the forex markets, although the Reserve Bank of Australia hinted at negative rates.
In a similar manner, the New Zealand dollar perked up as firmer-than-expected Chinese yuan fixing boosted risk sentiment.
The two currencies typically serve as liquid proxies for traders to hedge against emerging market risks....