AUDUSD--Tuesday, October, 6, 2009
Just to be contrary--are we at a significant point of resistance in AUDUSD?
We are right at a potential 2.618 Fibonacci extension of a base built at the beginning of the year.
And an interesting dog which did not bark today is the AUD yield curve. The reaction to the surprise rate hike of the RBA has been a big nothing. Whatever expectations the market had of future rates, today's hike has not seemed to change them. Some longer dated issues actually came down in yield.