sits just above the 0.65 level, which is a large, round, psychologically significant figure, and an area where we had seen selling pressure previously. If we were to break above there, then it could open the possibility of a bigger move, perhaps reaching to the 0.67 level. That’s very unlikely though, as the market has been very negative for quite some time and decisively so.
Every time this market looks tired, I will be shorting it, because I do believe that we are going to go down to the 0.62 level underneath. The 0.62 level is an area where we have seen the market bounce from previously, so if we were to break through that area, it’s likely that the Aussie dollar drops down to the 0.60 level. Ultimately, this is a market that also is highly influenced by the Chinese mainland, and the Asian markets.
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