AUD Short: Aussis Dollar downtrend & Weakening Economy

Summary: Short, ccy is in a multi-months downtrend and for a 5 wave impulse with a target of sub $0.70


The Australian economy is weakening and has recently dropped its zero COVID policy.

During the first 2 years the Australia has racked up record government debt and is running large government budget deficits.

Increasing global volatility, especially with Chinese debt concerns , e.g. Evergrande, and multiple EU crises. A flight to USD will continue and the USD will strengthen.