This week we see a lot of Chinese data coming out. We are seeing capital flows out of the AUD and bearish commodity prices all of which are bad signs for the AUD economy thus the carry trade has not been performing well as of late. As long as China's economy is slowing I'm bearish AUD.
From a technical perspective we have a lot of consolidation in the downtrend so I'm looking to go short as long as the downtrend remains intact.
From a technical perspective we have a lot of consolidation in the downtrend so I'm looking to go short as long as the downtrend remains intact.