May 24th 2016: Aussie Still Trending Lower

• Despite a few attempted recoveries in recent weeks, the trend seems firmly set against the Australian dollar, with further downside this morning. This follows a Dovish interpretation of RBA Governor Stevens’ speech this morning. The New Zealand dollar is lower in sympathy.

• Elsewhere, the US dollar has continued to strengthen, while the USD/ JPY drops.

• Coming up today we have UK public sector net borrowing at 09.30. UK inflation report hearings follow at 10.00.
• This is following my German ZEW economic sentiment at 10.00.

Trade Idea: 

• The AUD/ USD has shown no serious signs of trend reversal and there could be further downside from here.

• A good way to play this is a LOWER trade predicting that the AUD/ USD will close below 0.7100 in 21 days for a potential return of 164%

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