The AUD still has plenty of room to drop away to the 85 mark area, the news here has not been good and I would expect housing sales to reflect again today.
The RBA could drop interest rates as early as next week also.
The big IF usd data shows strength this will certainly push the AUD below 89 in search of a bottom.
Chart wise or tech side as some prefer to say is easy, look at a clean chart and ask a 2 year kid which way it is going up or down, it is as easy as that.(would be surprised if any say up and if so make them stand on their head.)
Would not be looking for longs until some real underlying strength starts to form again which could be some time away.
The RBA could drop interest rates as early as next week also.
The big IF usd data shows strength this will certainly push the AUD below 89 in search of a bottom.
Chart wise or tech side as some prefer to say is easy, look at a clean chart and ask a 2 year kid which way it is going up or down, it is as easy as that.(would be surprised if any say up and if so make them stand on their head.)
Would not be looking for longs until some real underlying strength starts to form again which could be some time away.