Watching currencies closely

The bias for the AUDUSD is lower.

The recent 2 cent rally was divergent to the global US Dollar rally and was without strength.

Its on important support at the moment, being 0.7230

but it is something to watch closely and poised to break either way in next 2 days as it remains stuck in a broad range between 0.7550 and 0.6970.

but my work suggests the ’set-up’ is for lower AUD vs USD,

this will translate a reversal in USD strength against the Yen as well

If we see all this play out, it should also result in commodity prices correcting and a truce called between Russia/Ukraine.

March 14, 2022

by Rob Zdravevski

rob@karriasset.com.au