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Light Upside Call Spds


Dips Considered Corrective


Trend Signals Remain Bearish

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AUD/USD went offered Monday, dented by falling iron ore prices and fallout from the goings-on surrounding China's Evergrande. The rate managed to recoup some losses after printing worst levels in almost a month.

  • The Victorian state government shut down almost all construction work for two weeks following violent protests against vaccine mandate for workers employed in the sector.
  • The RBA will release the minutes from their September monetary policy meeting today, ahead of Wednesday's speech from RBA Asst Gov Bullock and the publication of flash Markit PMI data on Thursday.
  • AUD/USD last sits at $0.7258, 6 pips higher on the day. Bulls would be pleased by a stronger rebound above the 20-EMA at $0.7333 towards Sep 10 high of $0.7410. On the flip side, a pullback under Sep 20 low of $0.7220, which would allow bears to take aim at the 76.4% retracement of the Aug 20 - Sep 3 rally at $0.7194.