The Aussie has been one of the main victims of the shift towards risk aversion on the market. The market has broken back below parity like a knife through butter…
The pair finally managed to overcome the strong parity resistance. This confirmed breakout opens the door to further gains towards 1,08 (monthly bollinger band).
The pair has confirmed a strong bullish bounce with a break above 90,00. We expect a continuation of the bullish trend over the middle term.
The pair continues to consolidate on top of the key 76,00 level despite the strong Dollar which confirms a relative strengh of the Yen.
The break below 1,57 has accelerated the downside move towards the 1,5350 support from the end of december 2010 which is now being tested.
The pair is now evolving in a clear bearish trend after a confirmation of the break below 1,38.
The outlook is now clearly bearish on the pair and we expect a test of the parity soon.
The pair continues to struggle below the key parity level which remains a strong resistance to get through.
The pair continues to consolidate after its sharp rally from last week (1000 pips). There is of course room for an additional setback given the over-extended move.
The pair has confirmed a downside pressure with a break below monday’s low and is now poised for a new test of 76,00 historical low.