In this article I want to update you on Aussie which I posted earlier this week HERE and highlighted a break higher into wave five, which was seen in final stages of an impulse after RBA. We know that moves out of a triangle are final in a seuqunce and that they will most likely cause a shift in trend. What is interested and important at the moment is that reversal is strong back to previous supports, so its still only first leg of a minimum three wave drop from the recent high. RBA also reported that the household debt-to-income ratio is high, which increases sensitivity to rising interest rates. They are much more careful then the FED, so it can be bearish case for the AUDUSD pair going into next week.
Also, keep an eye on USDCNY; break above the trendline can cause more weakness on Aussie.
