Then literally you are also implying that the RBA (who is hungrily buying up BananaBuck$) is taking more risk with our hard earned?
trend reversals usually happen in periods of high volatility, the AUD has been whipping between 60-70c lately, I would say low 60's are a good entry, 1st target 70c, 2nd 75c and finally 80c, alongside a equity/commodity rally over the next 6 months.
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I went in long off the H1 Kumo which gave a max potential overnight of +76 pips. However my stop at +20 got hit this morning.
The action is under thee Kumo on all TFs which could lead to further bearish moves unless the Kumo can be broken south.
Good weekend all -arco
She's going to have to rally through a whole heap of terrible news over the next six months. Commodities will get smashed as the China domino falls.
*Big Sign* There goes my trip back to Hong Kong. It's almost 40% less cash to spend! And inflation in HK is rampaging too with prices of everything are up and stayed the same despite lower input costs since the commodities correction. Going to have to put off my netbook purchase until AUD is back up again.
Why not spend your money in Aus instead of giving most of it to Hong Kong.*Big Sign* There goes my trip back to Hong Kong. It's almost 40% less cash to spend! And inflation in HK is rampaging too with prices of everything are up and stayed the same despite lower input costs since the commodities correction. Going to have to put off my netbook purchase until AUD is back up again.
Everything depends on the S&P really. If we don't get a rally in the US and risk aversion continues to this degree, 55 cents is a real possibility.
Look out below.
CanOz
when can we expect the AUD$ to go up to around 70-90cents again
i got some stuff to buy from america
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