Ozzie remains difficult to predict. We are still in a downtrend since 2013 and may see new lows below 0.68 in the days to come but I believe there is better value to be had in other dollar pairs, particularly Swissie. With rates coming down in Australia and the US currently on hold (or cautiously tightening) the carry trade is not very appealing. Couple with this an increase in volatility and a risk off atmosphere make this pair a choppy contender for the foreseeable future.

There are some range opportunities available but overall I don't like this pair at the moment. 0.75 is key resistance and I expect this level to see some action over the coming weeks.

Daily candlestick projection:


Longer term weekly channel:


-AgentSmith
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