Forex Trading: AUD/USD
Posted by Byung Koo at 12:53 pm
In 2009 the Australian dollar appreciated a lot against the U.S. dollar but in my believe target for AUD/USD for 2010 will be 0,77. End of 2009 RBA raised the interest rate three times, on 7 October, 4 November and 2 December. The Reserve Bank’s objective of achieving an inflation rate of 2–3%, in latest report inflation was 1,3%. In latest Minutes of RBA you could hear, we won’t raise interest rates further in short term. The possibilities of rate hike by FED in 2010 increased a lot in late December, USD is in favor against the Australian dollar. Together with a drop in crude oil price in 2010(demand not so high as predicted) to 60 USD. The Australian dollar would drop sharply in 2010. In graphics you see a perfect triangle.
Forex Alert
Mulder Currency Fund will take a short position at 0,91. We could see this in the first weeks of January(see graphics).
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