AUD USD ANALYSIS FORECAST
Over the last three years narrow range trend in the Aussie 1000 pips 0.69-0.79 price area
Are we going to get the same move (14 % ) down or the range will continue?
since 2016 i have published a few articles about the Aussie Which now seems to be validated
i just put here one of the charts i draw in 2016:
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| AUD USD ANALYSIS |
Australia’s economy is very dependent on neighboring China A change for the worse in China has a significant impact on Australia, which is a supplier of raw materials to China, Let us not forget the tension between China and the US, which of course affects Australia economically
AUD /USD Commitment of Traders chart shows negative pressure: see below
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| AUD /USD Commitment of Traders |
in the economic sector, the news is not surprising to say: Business conditions have deteriorated sharply, with steep falls in employment prospects, as well as sales and profits, according to the NAB business survey, Low confidence, coupled with forwarding weakness in other indicators such as forward orders point to tough times ahead, survey’s employment index tumbled to a below-average reading for the first time since 2016.
Those entire indicators will put the RBA under increased pressure to cut rates as early as next month- And directly affect the currency of course, therefore see the Aussie weakened and probably continue to weaken against the dollar
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| AUD USD |
In conclusion, I think we’re going to see the scenario take shape as soon as the pedaling is over and it looks like this coming soon – be ready
This review does not include any document and/or file attached to it as advice or recommendation to buy/sell securities and/or other advice