Thursday’s downswing in the market of AUDUSD was provoked by the fact that iron ore prices had reached the 2-year low amid positive stats and forecast for the coal industry.
Nevertheless, Ben Bernanke’s Jackson Hole speech, which is scheduled for today, is still expected to become a decisive market driver.
Forex.
According to , the Aussie keeps weakening against the US Dollar. The experts report that AUDUSD is forming a downswing represented by wave C of level H16. At this point, sub-wave 3 or C isn’t completed.
A further downswing will probably meet support around 1.0268, 1.0254,1.0221/15.. The current bearish move will be completed as soon as the price overcomes the top of the MF sloping channel and consolidates above 1.0397. (as shown below).
