- Technically this pair still has some scope towards .8650 but further falls are likely to be hard-fought imho;
- The AUD looks like it wants to form a base against the NZD (1.0750 was seriously over-sold);
- EUR/AUD is also back towards long-term equilibrium levels above 1.55;
- AUD/JPY has been very slow in recent months but this consolidation above 90.00 looks bullish to me;
I’m in bottom-picking mode in the medium-term on AUD/USD but patience is required. Short-term I’m expecting a gradual fall inside of an .87/.90 range.