Australian dollar continues to be under pressure of internal factors, consider in ANZ. Based on recent data, it is logical to assume the peak of the investment boom in the mining sector, which is showing a steady growth in the resource-rich Australia, analysts said the bank. Fears that there will come a sharp decline in investment spending with the subsequent undermining economic growth and unemployment growth - are increasing.
Downward trend Aussie provokes markets to mitigate the expectation of further RBA rate cuts. To date RBA carried out eleven cuts of a rate from 2011 in attempt to support sectors of the Australian economy, other than the mining. According to Citigroup chief economist Paul Brennan, a low rate of the Australian currency will help to keep the balance in the Australian economy.
The rate of Australian dollar follows a long-term bearish trend. The AUDUSD continues to move in a bearish wave a(C) or truncated wave C Weekly, at a minimum, - explain experts at the online-learning Department of Trading System Masterforex-V. Working off of a subwave 3/C continues and will be completed of break MF pivot 0.9776 and the downward sloping channel MF. Fall below the minimum of 0.9596 will show the continuation of the current sub-waves. Long-term lows 0.9579 and 0.9386 are key support.
