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AUD Shorts in Play as CAPEX Report Fuels Selloff

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 26, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The Australian Dollar found concerted selling today as a highly negative CAPEX report crushed the currency. However, the move wasn’t a surprise to technical traders given that the AUD had entered a reversal zone and the pair now faces further selling that could see it falling back towards the lows of early November. Fundamentally, the Australian economy is facing some significant headwinds as Capital Expenditure has apparently diminished significantly by 9.2% q/q and nearly 20% y/y. Given the

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