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Australian dollar death cross

David Llewellyn-Smith
Monday, 3 November 2014
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From Forexlive:

AUDUSD-death-cross

Technically, some warning signs are building.

  1. AUD/USD gapped lower to start the week — go with the gap
  2. AUD/USD broke the minor uptrend since mid-Oct
  3. AUD/USD broke the 21-dma
  4. The 100-dma crossed below the 200-dma — a death cross

The next potential big event would be a break below the October low of 0.8643. That would leave very little support ahead of the 2010 low of 0.8067.

Will we meet my 80 cents 2o14 forecast made early this year?

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.