DislikedManipulation to the max!
Seen these type of movements before in stocks, namely RIO, CCL etc.
Wollop and manipulate to take out the stops, shorts/longs...but eventually price correction takes hold.Ignored
AU is far more closely correlated with the S&P and DJIA than any other single factor. This is why "the sky is falling on AU" perspective is such utter bs.
But when a trader's ears are closed to anything other than his own jaundiced perspective borne of inexperience, it is far better to let market do the talking and slice him up repeatedly, cos the capacity to listen to more experienced and knowledgeable traders is overshadowed by the alarmists need for drama, and attention.
Yup, the Aussie is stuffed, the sky is falling, going to 1.086 for sure.
(Sorry Ely, but your posts have become such a source of hilarious contrarian comedy, am sure the nobular jocks are busy analysing stocks in the toilet..... what that alarmist signature line has to do with the currency market is another hilarious delight..... hope this helps.)