At last. Despite our own blundering, last night the currency finally broke down, and how! The Australian dollar smashed through its 86.4 cent support against the US dollar and sits 85.82 as I write:
Technicals suggest 80 cents then 60 cents:
It happened despite Japanese QE, mooted European QE, and ‘risk on’ in broader markets. In fact, it happened across the entire universe of cross-rates:
Advertisement