My view of the AUD is down. Interest rate decision coming out next week which is almost certainly a cut. If the currency rises before then I would go short. If it drops below 0.8490 then short again.
Possible triangle formation — As you can see there is a possible triangle formation on the AUD/USD Any move outside this formation will be fast and furious. What do you think?
There's a growing belief that the RBA will cut rates before the end of the year. If data continues to point towards an economic slowdown then expect to see further declines in the AUD. url