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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