Aussie under pressure

2019年2月11日

The Australian dollar is trading well below all its main moving averages on the daily charts. With RBA also cutting growth forecasts and projections I am bearish on this pair and technically a brake of the 0.70600 critical long term support exposes this pair to the 0.70000 figure and below re-testing the upper boundary of the downtrend shown on the chart.
Trade safe.