Australia’s housing market saw a 6.8% sales increase in November. According to Harley Dale, an economist for HIA, the increase was caused mainly by the Bank of Australia’s interest rate cuts.
The housing prices in the capital of Australia grew by 0.1% for the first time since early 2011. Harley Dale is sure that Australia’s housing market is about to start a long-term recovery.
FOREX.
In the meantime, AUDUSD has finished forming the bullish sub-wave А(С)/С inside the bearish wave А/В. According to the experts of , a break above 1.0385 will initiate sub-wave С(С), with targets around 1.0445, 1.0496, 1.0509, 1.0547, 1.0586. A break below the 1.0144 low will initiate wave A/B with support around the MF sloping channel and pivot 1.0045 (as shown below):
