After briefly approached 0.71 vicinity, AUDUSD pulls back to 0.69 area.  Is that a pull back, or we are again heading back to southern hemisphere? I have no idea.  My take is , we have a chance to stay above 0.68 and looking at 0.72-ish level as next target. Play with care, that’s the plan. This is my two-cent worth analysis. 

Here is the….CHART! (click to view full chart)

And here is some technical statistics

In addition, let’s have a look at Dollar Index chart.  

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I am always looking at AUDUSD. Partly because I need to manage my USD exposure in my trading account. Anyway, I see AUDUSD  trading in a tight range and potentially moving to 0.68-ish level. I am watching. On the other hand, I do not ignore the possibility of breaking down, and back to 0.63…AGAIN.

Here is the …..CHART!  (click to view full chart)

Some statistics:

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I am actually looking for long signal. Yes, I am waiting to go long. We are waiting to see how does RBA react now. Do they still think that the stimulus package is going to do any good?

Well , it is understandable why were they so confident about the stimulus package. During the Asian crisis, around 1997 to 1999 , Australia managed to grow at an average rate of 4.7%. The country’s sound foundation of strong domestic consumption was able to save Australia from past crises. Consumer consumption was the key.

They still believe in this. I guess.

Anyway, I don’t believe in what they choose to believe. But I am looking to long  Aussie dollar now.

Here is the….CHART! (Click to view full chart)