AUD Clearing Heading South Long Term - 1 Day Chart
Major factors
1. China slow down
2. Fed interest rates annoucment for 2022
3. Aus interest rates hikes not till 2024
4. Iron ore slow down - biggest export for Australia
5. Evergrande impact on Australia - Australia's biggest iron ore customer
6. AUDUSD correlation with silver which is also declining in the same pattern
Heading to 0.67-0.68 over the next few months which will happen in waves in line with RSI and other trends below.
1. China slow down
2. Fed interest rates annoucment for 2022
3. Aus interest rates hikes not till 2024
4. Iron ore slow down - biggest export for Australia
5. Evergrande impact on Australia - Australia's biggest iron ore customer
6. AUDUSD correlation with silver which is also declining in the same pattern
Heading to 0.67-0.68 over the next few months which will happen in waves in line with RSI and other trends below.