Commodity currencies are on the retreat, which is usually the case when stocks and commodities are under pressure. RBA also left rates unchanged at 4.25%, which was reason for weak Aussie against the USD. We expect a stronger USD during this week, but not just yet, it look like we will see more consolidation and ideally some higher levels with slow price action on Euro.
We just published a new video analysis for EUR/USD, $ Index, AUD/USD, Gold, S&P500 and Oil. See it below:
Guest post by Gregor Horvat
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