Aussie is at the lows despite somehow hawkish RBA minutes, which showed that the board may be looking for additional tightening in the months ahead and that CPI will take longer to reach the target.
Aussie is at the lows despite somehow hawkish RBA minutes, which showed that the board may be looking for additional tightening in the months ahead and that CPI will take longer to reach the target.
However, AUDUSD is still looking weak, and this also has something to do with China, which has a lot of economic issues due to hiker rates around the globe.
So as long as rates are high, China will not pick up easily, and CNH can see further weakness, which can be underway to 2022 highs. So till then, Aussie can stay in a downtrend, so I think the next three wave rally up into wave four can be interesting short.
Grega
https://twitter.com/GregaHorvatFX
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