AUD/USD outlook November 25th
- Another speech from the RBA deputy-Governor later tonight so we can expect more verbal intervention;
- Crosses like GBP/AUD have made significant bullish breaks and more AUD weakness is likely;
- Real-money funds and option players are chasing this move lower as they adjust hedges;
- There is some technical support (76.4% retracement) near .9060 but momentum is definitely bearish;
- Initial resistance is now at .9225/50;
- Play these edges with a bearish bias given the strong move in the crosses.