Thursday, November 15, 2012

Comments on #Aussie #Dollar

Comments on #Aussie #Dollar SocialTwist Tell-a-Friend



Above is a daily chart of December Aussie Dollar futures.

Since early October the Aussie Dollar has benefited from the perception that China was poised for a significant rebound.  It appears now that the confidence has been shaken. Yesterday's outside day down followed by additional weakness today, suggests further downside. 

We will consider shorting Aussie now (103.06) with an initial target of 101.90. A settlement above 103.65 will stop us out.  Good luck....Jim                 
                                                               
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