After today's little rebound, the whole globe market should start the way down again (as predicted by my post on 29/01). Today I have done an analysis on AUD due to the news that Australian Central Bank stopped raising the interest rate in Australia, which opposed what experts expected. AUD has dropped quite a lot after it, but after my analysis, I predict that it would go as low as 0.86.
AUD has been following the fibonacci retracement created using the high and low points before. We could see that reaching the 261.8% line, AUD dropped. Now, it looks like that it would keep going downwards. The down-trend channel tells us that 0.86 would be the first support. There is still quite a lot for us to gain if we short AUD/USD now.
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