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USD Head and Shoulders above AUD
Today’s focus has rightly been on the ECB and the euro. But that’s not to say the non-EU markets have been dull. The US dollar, for one, has rallied strongly against most major currencies while the Kiwi has slumped. And now the AUD/USD looks like it may be rolling over too despite the RBA’s decision not to cut interest rates and some mixed-bag Australian data this week. Granted, we don’t have any more Australian or US macroeconomic pointers to provide fresh impetus for the AUD/USD until the key US nonfarm payrolls report is realised tomorrow afternoon. But that will probably not stop some technically-minded ... (full story)
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