The RBA meeting is tomorrow and it’s not expected to be a big decision (but neither was the BOJ).
Technically, some warning signs are building.
- AUD/USD gapped lower to start the week — go with the gap
- AUD/USD broke the minor uptrend since mid-Oct
- AUD/USD broke the 21-dma
- The 100-dma crossed below the 200-dma — a death cross
The next potential big event would be a break below the October low of 0.8643. That would leave very little support ahead of the 2010 low of 0.8067.
AUDUSD death cross
