I am watching this too. But I see quite a number of support, especially at 1.4270-75 area. Another minor support at 1.4230-35. After break, next area should be 1.40XX area.

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I still do not really understand why a Liberal win will strengthen Aussie. Sorry, do not understand Australia politics well. Anybody care to explain?

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I agree mate.

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What is it so? Care to explain?

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What is your rationale that rally will continue when new government is announced?

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I like your charts and the way you explained it. If you do not mind, can you post more of your charts pls. For learning. :nerd:

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congratulations to you. I have target at .9020 from .89 too, but I have to admit I jumped ship at .90 round number when I see that PA is not strong.

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Eg. Again China and Asian countries hungry to grow their infrastructure. The low Aussie might be a good opportunity for them to restock.

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Not only that, if you read the news, many Asian countries are also facing over-population problems, therefore they need to ramp up their infrastructure to cope with the demands too. Of course, this is fundamentals, TA are also important in trading.

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China is again embarking on the campaign moving inland westward to move the villages into cities.

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China and other Asian countries are also currently ramping up their infrastructure investments. More infrastructure and construction would means more demands for Aussie raw materials.

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PA still resisted by .8930 which is last week low.

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Gold is up, but Aussie is down? Isn't Gold co-related to Aussie?

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I agree, but with RBA trying to talk down its currency, any rallies are immediately seen as a selling opportunity by the bears. Seen from the charts, there are simply no follow thru for any possible rallies.

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Look at your chart and you will know why. Some seniors and myself pointed it out last week. However, failing for Aussie to break out of .9160 is rather concerning.

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So far there are no sign of reversal formation yet. The inverted Head and Shoulder we saw few days ago failed.

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How abt looking at GBP/AUD? See something?

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Me too. Aussie still undecided which direction to take.

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Positive Chinese data, but rally stop at .90 level. Seems bears are positioning themselves at that level or above.

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Apologies yes, I posted the question but decided to google search the answer myself. However, not sure if the implication is correct.

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