Fundamentals: - The Australian economy has continued to show strength certainly more so than its counter country New Zealand. Although the commodity prices figure has shown growth in the past year we are still in negative growth. The Caixin Manufacturing PMI in China came out better than expected but the high wage growth shown in the NFP on Friday should dampen...
With the BoJ keeping their QQE program on hold and safe haven flows through the JPY at the moment due to the global unrest caused by China I would expect to see the JPY continue to strengthen. The AUD being hit by weak Oil and a poor retail sales figure we should see further downside in this currency pair. Trade like a pro boafx.com
Learn 2 trade like a pro for FREE! - boafx.com - The triangle formation on the 4 hour chart could cause a breakout in either direction and there are arguments for both, however as you can see from the red arrows on the chart I favour the downside by taking the price at the top trendline or a fake breakout. Fundamentaly the Aussie is weaker than the USD and is...