"When I spoke at the Anika Foundation event last year, CPI inflation in Australia had been below 2 percent for a number of years and, in underlying terms, was just 1…
AUD/USD is actively sold
2019-11-11 • Updated
SELL 0.7160; TP1 0.7100; TP2 0.7055; SL 0.7190
AUD/USD has already substantially declined last week forming a big engulfing candlestick on W1.
This week, the Aussie formed what now looks like a “Falling three” bearish continuation pattern. Weekly close around 0.7190 will confirm it. The pair’s currently supported at 0.7190 (50-day MA). A decline below the 61.8% Fibo at 0.7165 will make the Aussie refocus on 0.7100 and 0.7050.
The decision of the Australian central bank pressed the aussie down. How to trade it now?
AUD/USD began the week slightly higher reaching as high as 0.7725 before declining earlier today to 0.7690’s.
Over the last couple of weeks, GBPUSD and a few other commodities have breached their recent swing highs and lows, while some have even gone on to create new All-Time Highs and Lows
A United Nations agency is warning that the central bank’s actions create a high risk of pushing the global economy into recession.
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.