The Australian Dollar is accelerating its tumble. The fundamental catalyst is reported as being weak retail sales that will lead to a rate cut tomorrow. Let's take a look at the charts.
First is a GBPAUD daily chart.
The 50 SMA crossed above the 200 EMA long ago, and we see the trend accelerated -- as evidenced by the development of steepening trendlines.
http://www.informedtrades.com/images...08-05_0654.png
Here's the AUDUSD weekly chart; price is below the 50 SMA and 200 EMA here. We haven't been at these levels since late August of 2010, nearly three year ago.
http://www.informedtrades.com/images...08-05_0702.png
The AUDJPY chart has fallen to a key support level on the daily chart . Could this pave the way for a "sell the rumor, buy the news" situation in which AUD rallies after the RBA rate announcement tomorrow?
http://www.informedtrades.com/images...08-05_0718.png
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First is a GBPAUD daily chart.
The 50 SMA crossed above the 200 EMA long ago, and we see the trend accelerated -- as evidenced by the development of steepening trendlines.
http://www.informedtrades.com/images...08-05_0654.png
Here's the AUDUSD weekly chart; price is below the 50 SMA and 200 EMA here. We haven't been at these levels since late August of 2010, nearly three year ago.
http://www.informedtrades.com/images...08-05_0702.png
The AUDJPY chart has fallen to a key support level on the daily chart . Could this pave the way for a "sell the rumor, buy the news" situation in which AUD rallies after the RBA rate announcement tomorrow?
http://www.informedtrades.com/images...08-05_0718.png
InformedTrades Reviews