AUD: Nearly time to call a bottom?

There have been plenty of reasons over the last few weeks for the AUD to fall even further, risk-aversion out of Ukraine, collapsing commodity prices, verbal intervention from the RBA etc yet in spite of all this the AUD has actually strengthened slightly whilst all this has been going on.

Am I calling a bottom for the AUD? Well I’m thinking about it! If the market can’t fall on bad news then it will roar higher once the news improves.

• AUD/NZD is trading at 30 year lows;
• GBP/AUD looks to be forming a top;
• EUR/AUD is back at long-term neutral levels near 1.55.

Worth keeping a very close eye on the Aussie me thinks.