Geopolitical risks seem to be influencing financial markets again. Forex is one if them. Tensions around Syria, including the possibility of a US military operation in Syria, seem to keep worrying investors worldwide.
According to Westpack strategists, the possibility of a military operation against the existing Syrian authorities may create concerns in Asia, affecting emerging and commodity currencies, including the Australian Dollar. The experts of v also indicate a negative impact on the Aussie caused by the Syrian crisis.
On top of that, investors are focused on the forthcoming investment report. Experts say the report won’t show any new tendencies. It is also necessary to pay attention to the RBA’s decision to decline its expectations of economic growth for 2013.
Forex
The chart below, courtesy of Masterforex-V Academy, reflects the current state of affairs in the market of AUDUSD. The Aussie is forming a a downswing – wave a(C )/C of level Daily.
A further downswing (below 0.8891) will give way to 0.8859, 0.8815, 0.8792 and 0.8846.. The current bearish move will be completed as soon as the price overcomes the top of the MF sloping channel and consolidates above the 0.8891 high (as shown below).
