24 Aug 2015
How low can the Aussie NOW go? - BBH
FXStreet (Guatemala) - After the massive turmoil, Analysts at Brown Brothers Harriman noted that the Australian dollar has recorded lower highs for seven consecutive sessions.
Key Quotes:
"After breaking below the $0.7290 support level, the Aussie made a new cycle low, a level not seen since mid-2009. "
"It will take a move back to the $0.7380-$0.7400 to ease the bearish technical indicators. There seems to be little in terms of fundamental or technical considerations that argue against a test on $0.7000 in the period ahead."
Key Quotes:
"After breaking below the $0.7290 support level, the Aussie made a new cycle low, a level not seen since mid-2009. "
"It will take a move back to the $0.7380-$0.7400 to ease the bearish technical indicators. There seems to be little in terms of fundamental or technical considerations that argue against a test on $0.7000 in the period ahead."