Wednesday, January 16, 2013

Comments on Australian Dollar by @JimIuorio

Comments on Australian Dollar by @JimIuorioSocialTwist Tell-a-Friend

Attached is a daily chart of the December Australian dollar.
The currency appears to be on the verge of a downside breakout after lower than expected Australian consumer confidence and the World Bank lowering global growth estimates due to expected slow down in China.  If the March Aussie Dollar trades below 104.76 we will adopt a negative bias with an initial downside  objective of 104.23. A settle above yesterday's close of 105.08 would return us to neutral.   

The Canadian Dollar trade that we have had on for some time is nearing key downside level.  A settle below 101.00 in  CDH3 would return us to neutral.

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