Comments on Australian Dollar by @JimIuorio
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.
