Stocks grabbed the headlines on Friday but we seen a lot of moves over various different markets. One of the most interesting is the possible AUDUSD break.
I first flagged up this swing short in the Aussie about 8 months ago when we were trading 0.76250. We're down about 500 pips from there (Which is a big move in the FX markets).
Before:
After:
If we go through this level we have a 161 break in the downtrend and this can take us into a vicious fall into the 220 level.
This would be almost a 50% decline. The value of the USD would have to get close to double what it currently is relative to the AUD for this to happen. If this were to happen quickly, there'd be a really strong chance this was our early signs the market was going strongly risk off and heading into the USD reserve currency while waiting to see where to move next.
Some really serious shit coming in the FX markets if this turns into a legit break.
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