The AUD/USD has fallen for five consecutive weeks and with Iron-ore and Copper prices probing 3-month lows, we don’t see any technical indicators pointing to a price reversal this week. The AUD/USD peaked at .7835 on April 21st and posted a low of .7175 early last week and even though short-term indicators are beginning to get stretched, there is little upside momentum.
Author: Leon Hinde
Leon has been working in the financial services industry for 18 years in management and advisory roles. Leon has extensive experience in general advice and dealings involving securities and derivative financial products.
PS 146 Securities & Derivatives, ADA 1 & 2 accreditation, Responsible Manager Certificate. Leon is authorised to provide financial product advice and deal with respect to the following financial products:
· Deposit Products
· Interest in managed investment schemes; and
· Government debentures, bonds and stocks