AUD/USD is in a downtrend, and with US PMI releasing tomorrow at 14:00, we will monitor the markets reaction on the news. To determine if the 50BP increase by the Australian reserve bank has been priced in already or not.
However the big move lower is expected to happen when the Australian Reserve Bank increased interest rates with 50BP early Wednesday Morning.
Money will flow into the US dollar for the foreseeable future.
Expect moves lower to the 0.6000 level this week.
I will be fading any upside rallies.
However the big move lower is expected to happen when the Australian Reserve Bank increased interest rates with 50BP early Wednesday Morning.
Money will flow into the US dollar for the foreseeable future.
Expect moves lower to the 0.6000 level this week.
I will be fading any upside rallies.