Looking at the AUD-USD its readily apparent that the AUD is not about to fall back as many pundits are suggesting. In fact I would suggest its building momentum for an assault on 'parity' with the USD. Clearly breaking resistance at 95c is the next hurdle.I have already suggested my reasons why. The only reason for thinking this would change is one factor only - the strong inflation numbers. But I dare say that will fall back as money supply growth is curtailed.
Andrew Sheldon www.sheldonthinks.com
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