AUDUSD On the way down
As you can see AUDUSD has peaked from the last drop and is now heading to 0.68 over the next few months
I posted the trend a few weeks ago and it seems like it is following the downward trend from my original post.
Reasons: US Fed raising interest rates in March this year (90% chance) and AUD will not raise rates in Australia until 2024 according to RBA. Iron ore prices are declining with the Evergrande fiasco. Evergrande has officially defaulted as per the Finch rating. They have asked for a 6 month extension but will not get it as the debt will just blow out more. Chinese real estate has dropped more than $1T and the real estate market is approx a third of the Chinese GDP plus the biggest iron ore customers for Australia.
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