The Jackson Hole meeting is over. Now the Aussie exchange rate will be influenced by the ECB’s steps and the RBA meeting.
According to Barclays, lower prices suggest signs of a recession in Australia. The trading conditions in the country are getting poorer. So, an economic decline looks fairly probable.
According to RBC Capital Markets, the Australian Dollar is expected to continue depreciating against the US counterpart, with higher volatility. They say AUDUSD will reach parity within a couple of weeks.
Forex.
According to , the Australian Dollar keeps weakening against the US Dollar. The experts report that NZDUSD is forming wave А(С)/С of level H2 inside a bigger-scale downswing represented by wave C.
A further downswing will probably meet support around 1.0176. The current bearish move will be completed as soon as the price overcomes the top of the MF sloping channel and consolidates above 1.0354 (as shown below).
