We reaffirmed our bullish view for the Aussie dollar in early July and in that note, we said holding the 200 day moving average level would be important.
The Aussie continues to hold those levels and we think could continue to rally higher in to the rest of the year as commodity prices remain strong.
Australia's central bank has reaffirmed its commitment to continue raising rates should inflation remain high. Meanwhile US yields continue to rise as bonds sell off. Consolidation around current levels could see the Aussie creep into the mid US$0.70-75 range in coming weeks.
The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.
The Aussie continues to hold those levels and we think could continue to rally higher in to the rest of the year as commodity prices remain strong.
Australia's central bank has reaffirmed its commitment to continue raising rates should inflation remain high. Meanwhile US yields continue to rise as bonds sell off. Consolidation around current levels could see the Aussie creep into the mid US$0.70-75 range in coming weeks.
The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.
The Blueberry Team
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