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long in AUD/USD


AUD/USD had gone oversold in 1st week of August, corrected by sideways move for many days (not a significant upward move) which showed bearish dynamic pressure and it tried continuing downward on last Friday. But it erased 'whole down move since Friday' on Monday, made a kind of bullish engulfing on 1D. It suggests upward retracement at least to FIB38.2 which coincides with ABCD100 (AB=CD).



RBA Debelle: AUD has come down some, may well go down further

RBA'S DEBELLE SAYS A$ HAS COME DOWN SOME, MAY WELL GO DOWN FURTHER

RBA'S DEBELLE SAYS FURTHER FALL IN A$ WOULD BE HELPFUL TO ECONOMY

RBA Dep Gov Debelle: If Rates Got Down To 0.5Pct, We Would Have To Consider Using Other Options


AUD didn't show any significant downward move after RBA's Debelle spoke. It implies that Forex market is reluctant as of now to send AUD further down.



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