JLS: AUDUSD Target Zone 0.7300-0.6300 Up-Date

The AUDUSD will visit and break the 0.6900 down to 0.6300 by the unwinding trading activity of the CHF and JPY carry traders on AUD and AUD-denominated debt securities.

Carry trading activity is the causes of interdays highs and lows interior the target zones. Carry trading activity supportive to slower the weakening of AUD by the USD.