Up till yesterday, AUD has declined 1.7%. against the USD, 1.9% against the CAD since the time we published

GBL: AUD – Hold Bearish View

FX Tech Flash by Saktiandi Supaat

FX Research

Up till yesterday, AUD has declined 1.7%. against the USD, 1.9% against the CAD since the time we published our last note AUD – The Correction dated 23 Mar. We had made the tactical call on shorting AUD against the CAD as we had looked for the divergence of iron ore prices and oil prices that was observed since the start of 2017 to converge. Commodity prices tend to move together. In addition, technically, AUDCAD also showed strong bearish signals. With AUDCAD last seen around 1.0040...