Buy AUDUSD from support
TP: 0.6900
Q4 2019 included two key positive developments for global risk appetite
1) the Brexit deal breakthrough
2) and the US-China "Phase One" trade deal
This was enough for the Aussie to reach highs since July.
Domestically, Australia continues to print trade surpluses and iron ore's 3-month highs are backed by a bounce in copper prices (coal remains a weak spot). Yet 0.6950 did not give way and it is easy to imagine US-led trade tensions returning in 2020.
Most importantly, we expect the RBA to lower its Australia GDP forecasts and cut the cash rate in February, an outcome only about 50% priced.
The Aussie should continue to meet sellers with a 0.69 handle over year-end, with risks below 0.67 on anticipation of or delivery of a February cut.
TP: 0.6900
Q4 2019 included two key positive developments for global risk appetite
1) the Brexit deal breakthrough
2) and the US-China "Phase One" trade deal
This was enough for the Aussie to reach highs since July.
Domestically, Australia continues to print trade surpluses and iron ore's 3-month highs are backed by a bounce in copper prices (coal remains a weak spot). Yet 0.6950 did not give way and it is easy to imagine US-led trade tensions returning in 2020.
Most importantly, we expect the RBA to lower its Australia GDP forecasts and cut the cash rate in February, an outcome only about 50% priced.
The Aussie should continue to meet sellers with a 0.69 handle over year-end, with risks below 0.67 on anticipation of or delivery of a February cut.
İşlem kapandı: hedefe ulaştı
Closed reach TP at 0.69
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.