RBA want's price lower to make non-mining exports more competitive, instead of cutting rates it seems the RBA is happy with current decline. If that's not enough commodity prices are falling and the AUD is facing stacked resistance northward.
As we have rejected the serious resistance at 0.7200 a re-test of the bottom is likely before any real strength moves this pair.
As we have rejected the serious resistance at 0.7200 a re-test of the bottom is likely before any real strength moves this pair.