AUDUSD 15 mins Sept 23

The dollar is an absolute freight train at the moment and given the mood in markets, there's no obvious catalyst to halt it.

What I am hearing is increasing talk about FX intervention. I highlighted earlier this week that the last two big USD cycles didn't end until central banks started intervening. The dollar's special place in the FX market can be self-sustaining in a recessionary environment and that environment looks increasingly likely.

Technically, AUD/USD still has plenty of breathing room until the pandemic low of 0.5506.