As it’s rather quiet thought I’d bring to your attention Westpac’s latest recommendation on AUD/USD, as reported by Dow Jones.
They feel it’s time to sell AUD/USD with initial target low .8600 region. They suggest adding to position on strength to .8910, with stop in high .89’s.
Reasoning: Fears about global economic outlook, particularly China, will again start to weigh on commodity prices and send aussie lower.
We’re presently at .8805.
Well, at least if they get it wrong it’ll give the chance to give them a good verbal bashing.
