Aussie Still Trending Lower

Morning Report: 06.30 London

• Despite a few attempted recoveries in recent weeks, the trend seems firmly set against the Australian dollar with further downside this morning. This follows a Dovish interpretation of RBA Governor Stevens’ speech this morning. The New Zealand dollar is lower.

• Elsewhere, the US dollar has continued to strengthen, while the USD/JPY drops.

                                                                                                                                                                                                                                                                                                                                                        
Coming up today:

• Coming up today we have UK public sector net borrowing at 09.30. UK inflation report hearings follow at 10.00.

• This is following German ZEW economic sentiment at 10.00.

Trade Idea:

• The AUD/USD has shown no serious signs of a trend reversal and there could be a further downside from here.

A good way to play this is a LOWER trade predicting that the AUD/USD will close below 0.7100 in 21 days for a potential return of 164%.

                          
                                                         

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