Short AUD/USD
Fundamentals: - The Australian economy has continued to show strength certainly more so than its counter country New Zealand. Although the commodity prices figure has shown growth in the past year we are still in negative growth. The Caixin Manufacturing PMI in China came out better than expected but the high wage growth shown in the NFP on Friday should dampen the rally a little. I would expect a sizeable pull back next week as the Non Farm Payroll figures set into the markets.
Technical's:- At the moment there are no clear technical signs that this downtrend will continue so we are basing our trade on the natural movement of the markets but will be looking to move to break even as soon as we clear 20 - 30 pips profit
Technical's:- At the moment there are no clear technical signs that this downtrend will continue so we are basing our trade on the natural movement of the markets but will be looking to move to break even as soon as we clear 20 - 30 pips profit
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