Selling AUD / Buying USD at 0.6805

In last night’s trading AUD/USD traded to a high of 0.6807, which was within my 0.6805 (+/- 10 bps) call as written in this note, a few days ago.

Time to watch the AUD again

For now, it is yet to break above the 0.6818 level also mentioned.

Should the AUD/USD not breach 0.6818, probability increases of further leg lower in commodity prices as measured by the CRB Index and S&P Goldman Sachs Commodity Index (SPGSCI) along with a strengthening of their current downtrends.

June 14, 2023

by Rob Zdravevski

rob@karriasset.com.au